Amalgamated Bank Trims Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Amalgamated Bank reduced its stake in Arrow Electronics, Inc. (NYSE:ARW) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,468 shares of the technology company’s stock after selling 3,604 shares during the period. Amalgamated Bank owned approximately 0.06% of Arrow Electronics worth $4,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in shares of Arrow Electronics by 0.3% in the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock worth $3,421,000 after acquiring an additional 82 shares during the last quarter. Two Point Capital Management Inc. lifted its holdings in shares of Arrow Electronics by 0.4% during the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock valued at $2,606,000 after purchasing an additional 95 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Arrow Electronics by 1.7% during the first quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company’s stock valued at $806,000 after purchasing an additional 107 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Arrow Electronics by 2.4% during the first quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock valued at $598,000 after purchasing an additional 108 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of Arrow Electronics by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock valued at $626,000 after purchasing an additional 117 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARW. Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Raymond James upped their price target on 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 increased their target price on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Stock Down 1.7 %

ARW stock opened at $131.64 on Monday. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $136.93. The business’s 50-day moving average is $127.46 and its two-hundred day moving average is $126.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share 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 company had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the prior year, the company earned $4.37 earnings per share. Arrow Electronics’s revenue was down 19.0% on a year-over-year basis. As a group, analysts forecast that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

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.