Foster & Motley Inc. Cuts Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Foster & Motley Inc. lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,480 shares of the technology company’s stock after selling 1,208 shares during the quarter. Foster & Motley Inc.’s holdings in Arrow Electronics were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ARW. Summit Trail Advisors LLC increased its holdings in Arrow Electronics by 2.8% in the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after buying an additional 108 shares during the last quarter. Creative Planning increased its holdings in Arrow Electronics by 1.1% in the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock valued at $1,486,000 after buying an additional 123 shares during the last quarter. Covestor Ltd increased its holdings in Arrow Electronics by 14.0% in the third quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock valued at $141,000 after buying an additional 131 shares during the last quarter. GAMMA Investing LLC increased its holdings in Arrow Electronics by 24.6% in the third quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after buying an additional 137 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in Arrow Electronics by 9.2% in the third quarter. Foundations Investment Advisors LLC now owns 1,810 shares of the technology company’s stock valued at $240,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial dropped their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Raymond James dropped their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Wells Fargo & Company dropped their price objective on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, January 13th.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $117.03 on Friday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 13.06 and a beta of 1.26. The stock’s 50-day moving average is $116.95 and its two-hundred day moving average is $123.86. 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 (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the firm earned $4.14 earnings per share. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. Analysts predict that Arrow Electronics, Inc. will post 10.26 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.