Arrow Electronics, Inc. (NYSE:ARW) is Oldfield Partners LLP’s 3rd Largest Position

Oldfield Partners LLP reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 21.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 450,200 shares of the technology company’s stock after selling 122,700 shares during the period. Arrow Electronics comprises about 12.6% of Oldfield Partners LLP’s holdings, making the stock its 3rd largest holding. Oldfield Partners LLP owned about 0.85% of Arrow Electronics worth $59,800,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ARW. Pacer Advisors Inc. boosted its holdings in Arrow Electronics by 9,044.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after purchasing an additional 1,204,837 shares in the last quarter. Boston Partners raised its stake in shares of Arrow Electronics by 108.5% in the 1st quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock valued at $129,622,000 after purchasing an additional 521,117 shares in the last quarter. Lind Value II ApS bought a new position in Arrow Electronics in the 1st quarter worth about $66,949,000. Dimensional Fund Advisors LP boosted its holdings in Arrow Electronics by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after buying an additional 325,122 shares in the last quarter. Finally, Loews Corp purchased a new stake in shares of Arrow Electronics in the 1st quarter valued at approximately $25,892,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock opened at $134.04 on Tuesday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.39. The firm’s 50-day moving average is $131.18 and its 200 day moving average is $127.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 10.54 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the company earned $4.37 EPS. The company’s quarterly revenue was down 19.0% compared to the same quarter last year. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.74 EPS for the current fiscal year.

Analysts Set New Price Targets

ARW has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Raymond James boosted their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $130.75.

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.