Harbor Capital Advisors Inc. Sells 28,229 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Harbor Capital Advisors Inc. lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 60.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,165 shares of the technology company’s stock after selling 28,229 shares during the period. Harbor Capital Advisors Inc.’s holdings in Arrow Electronics were worth $2,055,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ARW. American Century Companies Inc. grew its stake in shares of Arrow Electronics by 69.6% during the second quarter. American Century Companies Inc. now owns 55,962 shares of the technology company’s stock valued at $6,758,000 after buying an additional 22,966 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Arrow Electronics by 21.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,706 shares of the technology company’s stock worth $568,000 after acquiring an additional 825 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Arrow Electronics by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 140,469 shares of the technology company’s stock worth $16,963,000 after purchasing an additional 7,910 shares during the period. Dimensional Fund Advisors LP lifted its position in 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 purchasing an additional 325,122 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Arrow Electronics during the second quarter valued at approximately $1,267,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ARW shares. Truist Financial decreased their target price on shares of 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 decreased their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $111.92 on Friday. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 12.49 and a beta of 1.26. The stock has a fifty day moving average of $117.20 and a 200 day moving average of $124.23. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 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 posted its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the company posted $4.14 EPS. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. As a group, research analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

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.