ARGA Investment Management LP Decreases Stake in Arrow Electronics, Inc. (NYSE:ARW)

ARGA Investment Management LP trimmed its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 17.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,138 shares of the technology company’s stock after selling 14,676 shares during the quarter. ARGA Investment Management LP owned 0.13% of Arrow Electronics worth $9,051,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec increased its holdings in Arrow Electronics by 220.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock worth $19,859,000 after purchasing an additional 102,854 shares during the last quarter. Verition Fund Management LLC grew its position in shares of Arrow Electronics by 644.0% during the third quarter. Verition Fund Management LLC now owns 18,727 shares of the technology company’s stock worth $2,488,000 after buying an additional 16,210 shares in the last quarter. Martingale Asset Management L P grew its position in shares of Arrow Electronics by 3,768.6% during the third quarter. Martingale Asset Management L P now owns 83,290 shares of the technology company’s stock worth $11,063,000 after buying an additional 81,137 shares in the last quarter. Hyperion Capital Advisors LP bought a new stake in shares of Arrow Electronics in the third quarter worth $254,000. Finally, Brooklyn Investment Group acquired a new stake in Arrow Electronics in the third quarter valued at $40,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ARW shares. Raymond James dropped their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial decreased their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.25.

Arrow Electronics Stock Performance

Arrow Electronics stock opened at $120.16 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The company has a fifty day moving average price of $126.73 and a two-hundred day moving average price of $127.10. The company has a market cap of $6.32 billion, a PE ratio of 13.41 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the business posted $4.14 EPS. The company’s quarterly revenue was down 14.8% on a year-over-year basis. Research analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

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.