Redwood Investment Management LLC Reduces Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Redwood Investment Management LLC reduced its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 17.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,959 shares of the technology company's stock after selling 7,228 shares during the quarter. Redwood Investment Management LLC owned about 0.07% of Arrow Electronics worth $4,678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ARW. Cetera Advisors LLC purchased a new stake in shares of Arrow Electronics in the first quarter valued at $235,000. DekaBank Deutsche Girozentrale purchased a new position in Arrow Electronics during the first quarter worth about $81,000. CWM LLC lifted its position in Arrow Electronics by 59.7% during the second quarter. CWM LLC now owns 1,714 shares of the technology company's stock worth $207,000 after buying an additional 641 shares during the period. CX Institutional lifted its position in Arrow Electronics by 0.8% during the second quarter. CX Institutional now owns 25,443 shares of the technology company's stock worth $3,072,000 after buying an additional 203 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Arrow Electronics by 12.1% during the second quarter. QRG Capital Management Inc. now owns 6,976 shares of the technology company's stock worth $842,000 after buying an additional 753 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ARW. Raymond James reduced their target price on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Truist Financial reduced their target price on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Arrow Electronics presently has a consensus rating of "Hold" and an average price target of $124.25.

Arrow Electronics Trading Down 1.0 %

Shares of Arrow Electronics stock traded down $1.21 during trading hours on Thursday, reaching $119.36. The stock had a trading volume of 314,066 shares, compared to its average volume of 461,751. The firm has a 50 day simple moving average of $125.80 and a two-hundred day simple moving average of $126.86. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 13.32 and a beta of 1.26. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.15. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company's quarterly revenue was down 14.8% compared to the same quarter last year. During the same period last year, the business posted $4.14 EPS. As a group, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

Arrow Electronics Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.