Polaris Capital Management LLC Acquires 2,800 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Polaris Capital Management LLC grew its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 261,203 shares of the technology company’s stock after buying an additional 2,800 shares during the period. Polaris Capital Management LLC’s holdings in Arrow Electronics were worth $29,547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ARW. Pacer Advisors Inc. grew its holdings in shares of Arrow Electronics by 71.9% during 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. FMR LLC grew its position in shares of Arrow Electronics by 371.1% during the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company’s stock worth $57,768,000 after buying an additional 342,590 shares during the period. Lind Value II ApS boosted its stake in Arrow Electronics by 36.3% during the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after acquiring an additional 172,669 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Arrow Electronics by 115.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after purchasing an additional 168,904 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Arrow Electronics by 220.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock valued at $19,859,000 after acquiring an additional 102,854 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

NYSE ARW opened at $107.67 on Tuesday. Arrow Electronics, Inc. has a 12-month low of $105.00 and a 12-month high of $137.80. The firm has a market cap of $5.66 billion, a P/E ratio of 14.79 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $115.75 and its 200-day moving average is $123.32.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. Sell-side analysts predict that Arrow Electronics, Inc. will post 12.81 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Raymond James dropped their target price 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. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday. Finally, Wells Fargo & Company cut their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $121.25.

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.