Arrow Electronics, Inc. (NYSE:ARW) Stake Cut by Speece Thorson Capital Group Inc.

Speece Thorson Capital Group Inc. reduced its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 136,746 shares of the technology company’s stock after selling 402 shares during the period. Arrow Electronics makes up 3.4% of Speece Thorson Capital Group Inc.’s investment portfolio, making the stock its 5th largest holding. Speece Thorson Capital Group Inc.’s holdings in Arrow Electronics were worth $18,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARW. Versant Capital Management Inc grew its position in Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Arrow Electronics in the 3rd quarter worth $73,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics in the 3rd quarter worth $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics in the 3rd quarter worth $88,000. Finally, GAMMA Investing LLC lifted its stake in shares of Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after acquiring an additional 137 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ARW. Truist Financial reduced 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 note on Friday, November 1st. Raymond James reduced 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, November 1st. Finally, Wells Fargo & Company raised their price objective 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Arrow Electronics has an average rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Trading Up 0.6 %

Arrow Electronics stock traded up $0.73 during trading on Wednesday, reaching $116.95. The company had a trading volume of 21,184 shares, compared to its average volume of 462,947. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The stock’s 50 day moving average price is $129.41 and its two-hundred day moving average price is $127.96. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 12.97 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Arrow Electronics’s revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.14 earnings per share. As a group, equities analysts expect that Arrow Electronics, Inc. will post 10.29 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.