Greenhaven Associates Inc. Sells 14,300 Shares of Arrow Electronics, Inc. $ARW

Greenhaven Associates Inc. decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,898,399 shares of the technology company’s stock after selling 14,300 shares during the quarter. Arrow Electronics makes up approximately 3.5% of Greenhaven Associates Inc.’s portfolio, making the stock its 7th biggest position. Greenhaven Associates Inc. owned approximately 3.69% of Arrow Electronics worth $229,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in shares of Arrow Electronics in the third quarter valued at approximately $26,000. Winnow Wealth LLC purchased a new stake in shares of Arrow Electronics in the third quarter valued at about $26,000. Farther Finance Advisors LLC lifted its holdings in shares of Arrow Electronics by 84.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company’s stock valued at $28,000 after buying an additional 101 shares during the period. True Wealth Design LLC grew its stake in shares of Arrow Electronics by 660.0% during the 2nd quarter. True Wealth Design LLC now owns 266 shares of the technology company’s stock worth $34,000 after purchasing an additional 231 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in Arrow Electronics by 1,547.1% in the second quarter. Hantz Financial Services Inc. now owns 280 shares of the technology company’s stock valued at $36,000 after buying an additional 263 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Stock Performance

Shares of ARW opened at $132.60 on Friday. The firm’s 50 day moving average is $114.30 and its 200-day moving average is $118.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.14. The stock has a market capitalization of $6.83 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.04 and a beta of 1.03. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $134.74.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 30th. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.13. The company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.67 billion. Arrow Electronics had a return on equity of 8.19% and a net margin of 1.62%.During the same quarter in the prior year, the company earned $2.38 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on ARW shares. Wall Street Zen downgraded Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research cut shares of Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Wells Fargo & Company decreased their target price on Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Arrow Electronics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Arrow Electronics currently has a consensus rating of “Reduce” and an average target price of $102.00.

About Arrow Electronics

Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.

In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.