Hotchkis & Wiley Capital Management LLC Reduces Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 26.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 838,067 shares of the technology company's stock after selling 307,465 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 1.59% of Arrow Electronics worth $111,320,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ARW. True Wealth Design LLC acquired a new position in Arrow Electronics during the third quarter worth approximately $31,000. Versant Capital Management Inc raised its stake in shares of Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company's stock valued at $40,000 after acquiring an additional 294 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Arrow Electronics during the third quarter valued at $40,000. Capital Performance Advisors LLP bought a new position in shares of Arrow Electronics during the third quarter valued at $73,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics during the third quarter valued at $78,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ARW shares. Truist Financial lowered their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Raymond James lowered their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $124.25.

Arrow Electronics Stock Performance

ARW stock traded down $1.31 during mid-day trading on Tuesday, hitting $121.29. The company had a trading volume of 514,680 shares, compared to its average volume of 461,646. The stock's fifty day moving average price is $126.54 and its two-hundred day moving average price is $127.03. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month 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 market cap of $6.38 billion, a PE ratio of 13.68 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $6.73 billion. During the same quarter in the previous year, the company earned $4.14 earnings per share. Arrow Electronics's revenue for the quarter was down 14.8% on a year-over-year basis. On average, analysts forecast that Arrow Electronics, Inc. will post 10.23 earnings per share 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.