Algert Global LLC Trims Position in Arrow Electronics, Inc. (NYSE:ARW)

Algert Global LLC lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 65.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,687 shares of the technology company's stock after selling 28,120 shares during the quarter. Algert Global LLC's holdings in Arrow Electronics were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ARW. Price T Rowe Associates Inc. MD lifted its holdings in Arrow Electronics by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,310 shares of the technology company's stock valued at $3,795,000 after purchasing an additional 1,381 shares during the last quarter. SVB Wealth LLC bought a new position in Arrow Electronics in the 1st quarter worth about $248,000. Janus Henderson Group PLC boosted its stake in Arrow Electronics by 657.5% in the 1st quarter. Janus Henderson Group PLC now owns 222,888 shares of the technology company's stock worth $28,854,000 after purchasing an additional 193,462 shares during the period. Tidal Investments LLC grew its holdings in Arrow Electronics by 124.1% during the 1st quarter. Tidal Investments LLC now owns 12,644 shares of the technology company's stock valued at $1,637,000 after buying an additional 7,002 shares in the last quarter. Finally, Lind Value II ApS bought a new stake in shares of Arrow Electronics during the first quarter valued at about $66,949,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Price Performance

NYSE:ARW traded down $1.48 during mid-day trading on Thursday, reaching $119.39. The stock had a trading volume of 285,071 shares, compared to its average volume of 463,473. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The firm has a 50 day moving average price of $127.25 and a two-hundred day moving average price of $127.23. The stock has a market capitalization of $6.28 billion, a P/E ratio of 13.32 and a beta of 1.27.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its 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. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm's quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.14 EPS. As a group, analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. 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 report on Friday, November 1st. Finally, Raymond James lowered their price target on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.