Invesco LLC Sells 853 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Invesco LLC trimmed its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,889 shares of the technology company’s stock after selling 853 shares during the quarter. Arrow Electronics comprises approximately 0.9% of Invesco LLC’s investment portfolio, making the stock its 28th biggest position. Invesco LLC’s holdings in Arrow Electronics were worth $2,363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ARW. Pacer Advisors Inc. grew its holdings in Arrow Electronics by 71.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after buying an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. grew its stake in shares of Arrow Electronics by 1.1% in the fourth quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock valued at $215,477,000 after acquiring an additional 20,484 shares in the last quarter. State Street Corp increased its position in Arrow Electronics by 0.3% during the third quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after acquiring an additional 4,811 shares during the period. Lind Value II ApS raised its stake in Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after purchasing an additional 172,669 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Arrow Electronics by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company’s stock valued at $64,281,000 after purchasing an additional 10,340 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Price Performance

Shares of ARW stock traded up $0.41 during trading hours on Wednesday, reaching $117.66. The company’s stock had a trading volume of 51,895 shares, compared to its average volume of 396,646. The firm’s 50 day simple moving average is $116.89 and its 200-day simple moving average is $123.96. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 13.16 and a beta of 1.26. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the prior year, the company earned $4.14 EPS. Arrow Electronics’s revenue was down 14.8% compared to the same quarter last year. Sell-side analysts forecast that Arrow Electronics, Inc. will post 10.26 earnings per share for the current year.

Analysts Set New Price Targets

ARW has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Truist Financial dropped their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Raymond James reduced their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

Arrow Electronics 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.