BNP Paribas Financial Markets Decreases Holdings in Arrow Electronics, Inc. (NYSE:ARW)

BNP Paribas Financial Markets reduced its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 18.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 141,173 shares of the technology company’s stock after selling 31,271 shares during the period. BNP Paribas Financial Markets’ holdings in Arrow Electronics were worth $18,752,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ARW. Price T Rowe Associates Inc. MD raised its stake in Arrow Electronics by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,310 shares of the technology company’s stock valued at $3,795,000 after acquiring an additional 1,381 shares during the period. Tidal Investments LLC boosted its stake in Arrow Electronics by 124.1% during the first quarter. Tidal Investments LLC now owns 12,644 shares of the technology company’s stock valued at $1,637,000 after buying an additional 7,002 shares during the period. Cetera Advisors LLC bought a new stake in shares of Arrow Electronics during the 1st quarter valued at about $235,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Arrow Electronics during the first quarter worth about $81,000. Finally, Versant Capital Management Inc raised its stake in Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after purchasing an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

ARW has been the topic of several research reports. Truist Financial lowered their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Raymond James dropped their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $124.25.

Arrow Electronics Price Performance

ARW stock opened at $120.16 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. The firm’s fifty day moving average is $126.73 and its 200 day moving average is $127.12. The firm has a market cap of $6.32 billion, a P/E ratio of 13.43 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.14 earnings per share. Research analysts predict 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.