Redwood Investment Management LLC Sells 7,228 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Redwood Investment Management LLC lessened its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 17.1% in the third quarter, according to the company in its most recent 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 period. Redwood Investment Management LLC owned approximately 0.07% of Arrow Electronics worth $4,678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in Arrow Electronics by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 243,750 shares of the technology company’s stock valued at $32,377,000 after buying an additional 30,380 shares in the last quarter. HighTower Advisors LLC increased its position in Arrow Electronics by 4.0% during the 3rd quarter. HighTower Advisors LLC now owns 18,501 shares of the technology company’s stock valued at $2,461,000 after buying an additional 717 shares in the last quarter. Paloma Partners Management Co bought a new position in Arrow Electronics during the 3rd quarter valued at approximately $262,000. True Wealth Design LLC purchased a new stake in Arrow Electronics during the 3rd quarter valued at $31,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Arrow Electronics by 220.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock valued at $19,859,000 after purchasing an additional 102,854 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

ARW has been the topic of several recent analyst reports. Truist Financial cut their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Raymond James cut their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $124.25.

Arrow Electronics Stock Performance

ARW stock opened at $120.58 on Thursday. The company has a market cap of $6.34 billion, a P/E ratio of 13.46 and a beta of 1.26. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The stock’s fifty day moving average price is $126.11 and its 200-day moving average price is $126.92.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The firm 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 revenue for the quarter was down 14.8% on a year-over-year basis. During the same period last year, the business posted $4.14 EPS. On average, equities analysts forecast that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

Arrow Electronics Company 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.