Dakota Wealth Management Lowers Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Dakota Wealth Management lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 28.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,731 shares of the technology company’s stock after selling 4,940 shares during the period. Dakota Wealth Management’s holdings in Arrow Electronics were worth $1,440,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Greenhaven Associates Inc. lifted its holdings in Arrow Electronics by 1.1% during the fourth quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock worth $215,477,000 after buying an additional 20,484 shares during the period. HB Wealth Management LLC purchased a new stake in Arrow Electronics during the fourth quarter worth $205,000. Gateway Investment Advisers LLC lifted its holdings in Arrow Electronics by 24.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 3,021 shares of the technology company’s stock worth $342,000 after buying an additional 596 shares during the period. Sendero Wealth Management LLC increased its position in shares of Arrow Electronics by 47.8% during the fourth quarter. Sendero Wealth Management LLC now owns 7,547 shares of the technology company’s stock worth $854,000 after purchasing an additional 2,440 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Arrow Electronics by 33.7% during the fourth quarter. Park Avenue Securities LLC now owns 3,601 shares of the technology company’s stock worth $407,000 after purchasing an additional 908 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

NYSE ARW opened at $119.35 on Friday. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The firm has a market capitalization of $6.28 billion, a P/E ratio of 13.32 and a beta of 1.26. The stock has a 50-day simple moving average of $116.63 and a two-hundred day simple moving average of $124.00.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the firm earned $4.14 EPS. The company’s quarterly revenue was down 14.8% on a year-over-year basis. On average, equities analysts forecast that Arrow Electronics, Inc. will post 10.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ARW shares. Wells Fargo & Company reduced their price target on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Raymond James reduced their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st.

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.