Harbor Capital Advisors Inc. Increases Position in Arrow Electronics, Inc. (NYSE:ARW)

Harbor Capital Advisors Inc. grew its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 57.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,394 shares of the technology company's stock after purchasing an additional 16,981 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.09% of Arrow Electronics worth $6,163,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Arrow Electronics by 794.6% during the 2nd 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. Whittier Trust Co. of Nevada Inc. raised its stake in Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company's stock worth $45,000 after acquiring an additional 150 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Arrow Electronics during the third quarter valued at approximately $78,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Arrow Electronics during the third quarter valued at approximately $88,000. Finally, GAMMA Investing LLC raised its position in shares of Arrow Electronics by 24.6% during the third quarter. GAMMA Investing LLC now owns 695 shares of the technology company's stock valued at $92,000 after buying an additional 137 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial lowered their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a research report on Friday. Raymond James decreased their price objective 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. Finally, Wells Fargo & Company lifted their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an "underweight" rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $124.25.

Arrow Electronics Stock Up 2.0 %

NYSE:ARW traded up $2.36 during trading hours on Friday, reaching $121.03. The company's stock had a trading volume of 675,405 shares, compared to its average volume of 351,051. The company has a market capitalization of $6.41 billion, a P/E ratio of 13.51 and a beta of 1.27. 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 1.07 and a current ratio of 1.46. The stock has a 50 day moving average price of $131.33 and a two-hundred day moving average price of $128.18.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the company earned $4.14 earnings per share. The business's revenue for the quarter was down 14.8% on a year-over-year basis. Equities analysts predict that Arrow Electronics, Inc. will post 10.74 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.