First Mercantile Trust Co. lowered its stake in shares of ARRIS International plc (NASDAQ:ARRS) by 15.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,325 shares of the communications equipment provider’s stock after selling 3,002 shares during the period. First Mercantile Trust Co.’s holdings in ARRIS International were worth $419,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ARRS. Parametric Portfolio Associates LLC increased its position in shares of ARRIS International by 20.3% during the second quarter. Parametric Portfolio Associates LLC now owns 132,490 shares of the communications equipment provider’s stock worth $3,712,000 after acquiring an additional 22,352 shares during the period. Balyasny Asset Management LLC increased its position in shares of ARRIS International by 376.9% during the second quarter. Balyasny Asset Management LLC now owns 38,635 shares of the communications equipment provider’s stock worth $1,083,000 after acquiring an additional 30,534 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of ARRIS International by 2.8% during the second quarter. Public Employees Retirement System of Ohio now owns 121,007 shares of the communications equipment provider’s stock worth $3,391,000 after acquiring an additional 3,289 shares during the period. Meeder Asset Management Inc. increased its position in shares of ARRIS International by 38.8% during the third quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock worth $865,000 after acquiring an additional 8,496 shares during the period. Finally, First Quadrant L P CA purchased a new stake in shares of ARRIS International during the third quarter worth $3,827,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

ARRIS International plc (ARRS) opened at $23.17 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83. The company has a market cap of $4,330.00, a price-to-earnings ratio of 26.63, a P/E/G ratio of 0.88 and a beta of 1.28. ARRIS International plc has a 12 month low of $22.60 and a 12 month high of $30.79.

In related news, insider Lawrence Robinson sold 4,167 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $30.00, for a total transaction of $125,010.00. Following the completion of the transaction, the insider now owns 71,721 shares in the company, valued at $2,151,630. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Philip Charles Baldock sold 4,930 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $26.11, for a total transaction of $128,722.30. Following the transaction, the senior vice president now owns 13,529 shares of the company’s stock, valued at approximately $353,242.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,347 shares of company stock valued at $290,307. Insiders own 0.90% of the company’s stock.

ARRS has been the topic of a number of recent research reports. Raymond James Financial set a $36.00 price objective on ARRIS International and gave the stock a “buy” rating in a research report on Thursday, December 14th. ValuEngine raised ARRIS International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, November 7th. Loop Capital initiated coverage on shares of ARRIS International in a research note on Monday, January 29th. They set a “buy” rating and a $35.00 target price for the company. Finally, TheStreet downgraded shares of ARRIS International from a “b” rating to a “c+” rating in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. ARRIS International has a consensus rating of “Hold” and an average price target of $33.20.

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About ARRIS International

ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.

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Institutional Ownership by Quarter for ARRIS International (NASDAQ:ARRS)

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