Wellington Management Group LLP Decreases Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Wellington Management Group LLP lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,932 shares of the technology company’s stock after selling 230 shares during the period. Wellington Management Group LLP’s holdings in Arrow Electronics were worth $522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ARW. True Wealth Design LLC acquired a new position in Arrow Electronics during the 3rd quarter worth approximately $31,000. Brooklyn Investment Group acquired a new position in shares of Arrow Electronics during the third quarter worth $40,000. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics in the third quarter valued at $73,000. DekaBank Deutsche Girozentrale acquired a new stake in Arrow Electronics during the 3rd quarter valued at $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arrow Electronics during the 3rd quarter worth $88,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James decreased their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st.

Arrow Electronics Price Performance

ARW opened at $114.75 on Friday. The company has a market capitalization of $6.03 billion, a P/E ratio of 12.81 and a beta of 1.26. The company has a 50-day moving average of $122.97 and a 200-day moving average of $125.94. 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, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the company earned $4.14 earnings per share. Arrow Electronics’s quarterly revenue was down 14.8% on a year-over-year basis. Equities analysts expect that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal 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.