Freedom Investment Management Inc. Sells 176 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Freedom Investment Management Inc. lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 5.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,377 shares of the technology company’s stock after selling 176 shares during the quarter. Freedom Investment Management Inc.’s holdings in Arrow Electronics were worth $449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in shares of Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after buying an additional 294 shares during the last quarter. Brooklyn Investment Group bought a new stake in Arrow Electronics in the third quarter worth $40,000. Capital Performance Advisors LLP purchased a new stake in shares of Arrow Electronics in the third quarter worth $73,000. DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics during the third quarter valued at $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Arrow Electronics in the 3rd quarter worth about $88,000. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Raymond James cut their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial decreased their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Arrow Electronics currently has an average rating of “Hold” and an average target price of $124.25.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $120.30 on Friday. The firm has a market capitalization of $6.33 billion, a PE ratio of 13.43 and a beta of 1.27. The company has a 50 day moving average price of $126.96 and a 200-day moving average price of $127.18. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

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 analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.14 EPS. As a group, equities research analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

About Arrow Electronics

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.