Oldfield Partners LLP Sells 122,700 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Oldfield Partners LLP lessened its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 21.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 450,200 shares of the technology company’s stock after selling 122,700 shares during the quarter. Arrow Electronics accounts for about 12.6% of Oldfield Partners LLP’s holdings, making the stock its 3rd biggest position. Oldfield Partners LLP’s holdings in Arrow Electronics were worth $59,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ARW. Dimensional Fund Advisors LP lifted its holdings in shares of Arrow Electronics by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after buying an additional 325,122 shares during the period. Greenhaven Associates Inc. grew its position in Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after acquiring an additional 32,052 shares during the period. Cooke & Bieler LP grew its position in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after acquiring an additional 56,781 shares during the period. Earnest Partners LLC boosted its position in shares of Arrow Electronics by 2.4% in the second quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock worth $169,979,000 after buying an additional 33,051 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Arrow Electronics by 9,044.0% in the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after acquiring an additional 1,204,837 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

ARW has been the topic of several research reports. Wells Fargo & Company upped their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Raymond James increased their price target on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their price objective on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Stock Down 1.1 %

NYSE ARW opened at $134.04 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The firm has a 50-day simple moving average of $131.18 and a 200 day simple moving average of $127.91. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $137.39. The stock has a market cap of $7.13 billion, a PE ratio of 10.54 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. The company had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. Arrow Electronics’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.37 earnings per share. On average, research analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS 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.