ARGA Investment Management LP Increases Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

ARGA Investment Management LP increased its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 15.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 78,635 shares of the technology company's stock after buying an additional 10,497 shares during the quarter. Arrow Electronics comprises approximately 0.3% of ARGA Investment Management LP's portfolio, making the stock its 28th biggest position. ARGA Investment Management LP owned about 0.15% of Arrow Electronics worth $8,895,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ARW. True Wealth Design LLC bought a new stake in Arrow Electronics in the 3rd quarter worth about $31,000. Brooklyn Investment Group purchased a new position in shares of Arrow Electronics in the 3rd quarter worth $40,000. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics in the 3rd quarter worth $73,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Arrow Electronics in the 3rd quarter worth $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Arrow Electronics in the 3rd quarter worth $88,000. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ARW shares. Raymond James dropped their price target on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Truist Financial decreased their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company decreased their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research report on Friday. Finally, Bank of America downgraded shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $121.25.

Arrow Electronics Stock Performance

Arrow Electronics stock traded down $2.57 during midday trading on Friday, hitting $107.15. The stock had a trading volume of 1,097,258 shares, compared to its average volume of 481,912. The firm's fifty day moving average is $116.32 and its two-hundred day moving average is $123.50. The company has a market capitalization of $5.63 billion, a PE ratio of 14.72 and a beta of 1.26. Arrow Electronics, Inc. has a 52-week low of $105.00 and a 52-week high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, research analysts forecast that Arrow Electronics, Inc. will post 12.81 EPS 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.