Polaris Capital Management LLC lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 46.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,503 shares of the technology company’s stock after selling 229,500 shares during the quarter. Arrow Electronics makes up approximately 1.8% of Polaris Capital Management LLC’s holdings, making the stock its 27th biggest position. Polaris Capital Management LLC owned about 0.47% of Arrow Electronics worth $33,001,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of Arrow Electronics in the 3rd quarter worth $639,000. Assetmark Inc. raised its stake in Arrow Electronics by 2.1% during the 3rd quarter. Assetmark Inc. now owns 12,041 shares of the technology company’s stock worth $1,508,000 after acquiring an additional 242 shares during the period. TIAA Trust National Association purchased a new position in Arrow Electronics during the third quarter valued at approximately $278,000. AustralianSuper Pty Ltd lifted its holdings in Arrow Electronics by 4.8% during the third quarter. AustralianSuper Pty Ltd now owns 34,124 shares of the technology company’s stock valued at $4,274,000 after purchasing an additional 1,567 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Arrow Electronics by 8.4% in the third quarter. Inspire Investing LLC now owns 2,795 shares of the technology company’s stock worth $350,000 after purchasing an additional 217 shares during the period. Institutional investors own 94.79% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Arrow Electronics presently has a consensus rating of “Hold” and a consensus price target of $133.67.
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Check Out Our Latest Research Report on ARW
Arrow Electronics Price Performance
Shares of NYSE:ARW opened at $116.20 on Friday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 6.49 and a beta of 1.40. The firm has a fifty day moving average price of $120.60 and a 200 day moving average price of $126.34. Arrow Electronics, Inc. has a fifty-two week low of $109.54 and a fifty-two week high of $147.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.45.
Arrow Electronics (NYSE:ARW – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $4.14 EPS for the quarter, topping the consensus estimate of $3.48 by $0.66. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Arrow Electronics had a net margin of 3.06% and a return on equity of 19.78%. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 16.81 earnings per share for the current fiscal year.
Arrow Electronics Company Profile
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.
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