D. E. Shaw & Co. Inc. Trims Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

D. E. Shaw & Co. Inc. cut its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 35.4% during the second quarter, HoldingsChannel.com reports. The fund owned 366,020 shares of the technology company’s stock after selling 200,442 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Arrow Electronics were worth $44,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after acquiring an additional 325,122 shares during the last quarter. Greenhaven Associates Inc. raised its stake in shares of Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock worth $227,377,000 after purchasing an additional 32,052 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock worth $226,722,000 after purchasing an additional 56,781 shares during the period. Earnest Partners LLC raised its position in Arrow Electronics by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock worth $169,979,000 after buying an additional 33,051 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after purchasing an additional 1,204,837 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Price Performance

Shares of NYSE:ARW opened at $133.87 on Friday. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 10.52 and a beta of 1.27. 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 business’s 50 day simple moving average is $128.32 and its 200-day simple moving average is $126.89. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $136.93.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.52 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. Arrow Electronics’s revenue was down 19.0% on a year-over-year basis. As a group, equities analysts forecast that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ARW. Raymond James lifted their price objective on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Truist Financial lifted their price target on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company increased their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $130.75.

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.