Foster & Motley Inc. Sells 278 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Foster & Motley Inc. lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,688 shares of the technology company’s stock after selling 278 shares during the period. Foster & Motley Inc.’s holdings in Arrow Electronics were worth $1,685,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in Arrow Electronics by 6.4% during the third quarter. QRG Capital Management Inc. now owns 7,421 shares of the technology company’s stock worth $986,000 after buying an additional 445 shares during the period. Innealta Capital LLC boosted its stake in Arrow Electronics by 23.0% during the third quarter. Innealta Capital LLC now owns 1,714 shares of the technology company’s stock worth $228,000 after buying an additional 321 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Arrow Electronics by 39.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 42,641 shares of the technology company’s stock worth $5,664,000 after buying an additional 12,159 shares during the period. Van ECK Associates Corp boosted its stake in Arrow Electronics by 40.0% during the third quarter. Van ECK Associates Corp now owns 29,576 shares of the technology company’s stock worth $3,915,000 after buying an additional 8,450 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in Arrow Electronics by 57.7% during the third quarter. Harbor Capital Advisors Inc. now owns 46,394 shares of the technology company’s stock worth $6,163,000 after buying an additional 16,981 shares during the period. Institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

ARW has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $124.25.

Arrow Electronics Stock Up 3.4 %

Shares of ARW opened at $122.90 on Thursday. The firm has a market capitalization of $6.46 billion, a P/E ratio of 13.72 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 current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $130.53 and a 200-day moving average price of $128.14.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was down 14.8% compared to the same quarter last year. Equities research analysts expect that Arrow Electronics, Inc. will post 10.66 earnings per share for the current 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.