ARGA Investment Management LP Sells 14,676 Shares of Arrow Electronics, Inc. (NYSE:ARW)

ARGA Investment Management LP trimmed its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 17.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,138 shares of the technology company's stock after selling 14,676 shares during the period. ARGA Investment Management LP owned about 0.13% of Arrow Electronics worth $9,051,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Arrow Electronics during the 3rd quarter valued at about $40,000. Versant Capital Management Inc grew its holdings in shares of Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company's stock worth $40,000 after purchasing an additional 294 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics in the third quarter worth $73,000. DekaBank Deutsche Girozentrale purchased a new stake in Arrow Electronics during the 3rd quarter valued at $78,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Arrow Electronics in the 3rd quarter worth $88,000. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Stock Up 0.6 %

ARW traded up $0.77 on Friday, hitting $120.16. The company had a trading volume of 134,199 shares, compared to its average volume of 413,267. The stock has a fifty day simple moving average of $126.73 and a 200-day simple moving average of $127.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The firm has a market capitalization of $6.32 billion, a P/E ratio of 13.41 and a beta of 1.27. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm's quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.14 earnings per share. As a group, equities analysts expect that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARW. 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 report on Friday, November 1st. Truist Financial dropped their price objective on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arrow Electronics currently has a consensus rating of "Hold" and an average target price of $124.25.

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.