Geode Capital Management LLC Trims Position in Arrow Electronics, Inc. (NYSE:ARW)

Geode Capital Management LLC lowered its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 923,518 shares of the technology company's stock after selling 55,381 shares during the quarter. Geode Capital Management LLC owned 1.76% of Arrow Electronics worth $122,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ARW. Fifth Third Bancorp raised its holdings in shares of Arrow Electronics by 0.3% during the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company's stock valued at $3,421,000 after purchasing an additional 82 shares during the period. Two Point Capital Management Inc. boosted its holdings in Arrow Electronics by 0.4% in the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company's stock worth $2,606,000 after acquiring an additional 95 shares in the last quarter. Summit Trail Advisors LLC grew its stake in Arrow Electronics by 2.8% in the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company's stock valued at $521,000 after acquiring an additional 108 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Arrow Electronics by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company's stock valued at $626,000 after acquiring an additional 117 shares in the last quarter. Finally, Meixler Investment Management Ltd. raised its position in shares of Arrow Electronics by 7.7% during the second quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company's stock worth $207,000 after purchasing an additional 122 shares during the period. 99.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ARW. Raymond James reduced their price target 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 lowered their target price 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.

Arrow Electronics Stock Performance

NYSE ARW opened at $117.92 on Wednesday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 13.16 and a beta of 1.26. The company has a fifty day moving average price of $124.35 and a 200-day moving average price of $126.30. 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 (NYSE:ARW - Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.23 by $0.15. The firm had revenue of $6.82 billion for the quarter, compared to analysts' expectations of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company'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, equities research analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal year.

About Arrow Electronics

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.