Speece Thorson Capital Group Inc. Sells 402 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Speece Thorson Capital Group Inc. reduced its stake in Arrow Electronics, Inc. (NYSE:ARW) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 136,746 shares of the technology company’s stock after selling 402 shares during the quarter. Arrow Electronics accounts for 3.4% of Speece Thorson Capital Group Inc.’s investment portfolio, making the stock its 5th largest position. Speece Thorson Capital Group Inc. owned 0.26% of Arrow Electronics worth $18,164,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ARW. Versant Capital Management Inc lifted its holdings in shares of Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after acquiring an additional 294 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Arrow Electronics during the 3rd quarter worth approximately $73,000. DekaBank Deutsche Girozentrale acquired a new stake in Arrow Electronics during the 3rd quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arrow Electronics during the 3rd quarter worth approximately $88,000. Finally, GAMMA Investing LLC lifted its holdings in Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after buying an additional 137 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Stock Up 0.6 %

Shares of NYSE:ARW traded up $0.73 during trading hours on Wednesday, reaching $116.95. The stock had a trading volume of 21,184 shares, compared to its average volume of 462,947. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The firm’s 50 day moving average is $129.41 and its 200-day moving average is $127.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 12.97 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its 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. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s revenue was down 14.8% on a year-over-year basis. During the same period last year, the firm posted $4.14 EPS. Research analysts predict that Arrow Electronics, Inc. will post 10.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARW shares. Wells Fargo & Company increased their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Raymond James reduced their target price 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. Finally, Truist Financial reduced their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $124.25.

About Arrow Electronics

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.