Arrow Electronics, Inc. (NYSE:ARW) is Oldfield Partners LLP’s 2nd Largest Position

Oldfield Partners LLP lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 30.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 572,900 shares of the technology company’s stock after selling 250,000 shares during the quarter. Arrow Electronics makes up approximately 13.1% of Oldfield Partners LLP’s holdings, making the stock its 2nd biggest position. Oldfield Partners LLP owned about 1.08% of Arrow Electronics worth $69,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ARW. Norges Bank purchased a new stake in Arrow Electronics in the 4th quarter worth approximately $79,027,000. Boston Partners boosted its position in shares of Arrow Electronics by 108.5% in the first quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock worth $129,622,000 after purchasing an additional 521,117 shares during the period. Lind Value II ApS bought a new position in shares of Arrow Electronics in the first quarter worth approximately $66,949,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Arrow Electronics by 56.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 851,790 shares of the technology company’s stock worth $104,131,000 after purchasing an additional 306,371 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Arrow Electronics by 11,546.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 220,347 shares of the technology company’s stock worth $26,937,000 after purchasing an additional 218,455 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ARW shares. The Goldman Sachs Group upped their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Wells Fargo & Company upped their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Raymond James boosted their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Arrow Electronics presently has a consensus rating of “Hold” and an average target price of $130.75.

Arrow Electronics Price Performance

ARW stock opened at $124.35 on Monday. The company has a market capitalization of $6.62 billion, a PE ratio of 9.78 and a beta of 1.27. The company’s fifty day moving average price is $126.45 and its 200-day moving average price is $126.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $136.93.

Arrow Electronics (NYSE:ARW) last released its quarterly 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 for the quarter, compared to the consensus estimate of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. Arrow Electronics’s revenue was down 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.37 earnings per share. On average, equities analysts anticipate that Arrow Electronics, Inc. will post 10.74 EPS for the current fiscal 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.