Geode Capital Management LLC Has $122.99 Million Stake in Arrow Electronics, Inc. (NYSE:ARW)

Geode Capital Management LLC lessened its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 5.7% in the third quarter, according to its most recent 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 period. Geode Capital Management LLC owned 1.76% of Arrow Electronics worth $122,992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Arrow Electronics by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company's stock valued at $331,353,000 after buying an additional 325,122 shares in the last quarter. Pacer Advisors Inc. grew its position in Arrow Electronics by 71.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock valued at $278,220,000 after buying an additional 876,396 shares in the last quarter. Cooke & Bieler LP grew its position in Arrow Electronics by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company's stock valued at $226,722,000 after buying an additional 56,781 shares in the last quarter. State Street Corp grew its position in Arrow Electronics by 0.3% in the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company's stock valued at $224,442,000 after buying an additional 4,811 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in Arrow Electronics by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company's stock valued at $169,979,000 after acquiring an additional 33,051 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Arrow Electronics Trading Down 1.8 %

ARW stock traded down $2.12 during mid-day trading on Wednesday, reaching $115.80. 454,245 shares of the stock traded hands, compared to its average volume of 459,839. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80. The company has a market cap of $6.09 billion, a P/E ratio of 12.92 and a beta of 1.26. The stock's fifty day moving average is $124.05 and its 200-day moving average is $126.21.

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

Wall Street Analysts Forecast Growth

ARW has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a report on Friday, November 1st. Raymond James cut their price target 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.

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.