The Manufacturers Life Insurance Company Sells 1,966 Shares of Arrow Electronics, Inc. (NYSE:ARW)

The Manufacturers Life Insurance Company trimmed its position in Arrow Electronics, Inc. (NYSE:ARW) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,165 shares of the technology company’s stock after selling 1,966 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Arrow Electronics were worth $6,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARW. Dimensional Fund Advisors LP increased its position in shares of Arrow Electronics by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after acquiring an additional 325,122 shares during the period. Pacer Advisors Inc. grew its stake in shares of Arrow Electronics by 71.9% in the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after purchasing an additional 876,396 shares during the last quarter. Greenhaven Associates Inc. increased its holdings in Arrow Electronics by 1.7% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after purchasing an additional 32,052 shares during the period. Cooke & Bieler LP raised its position in Arrow Electronics by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after purchasing an additional 56,781 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in Arrow Electronics by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock worth $169,979,000 after buying an additional 33,051 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial reduced their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Raymond James cut their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Arrow Electronics presently has a consensus rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Stock Down 1.0 %

ARW stock opened at $119.36 on Friday. 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 market capitalization of $6.28 billion, a price-to-earnings ratio of 13.32 and a beta of 1.26. The business’s 50 day moving average price is $125.80 and its two-hundred day moving average price is $126.86. 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 issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 earnings per share. As a group, analysts forecast that Arrow Electronics, Inc. will post 10.23 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.