Texas Permanent School Fund Corp Lowers Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Texas Permanent School Fund Corp cut its holdings in shares of Arrow Electronics, Inc. (NYSE:ARWFree Report) by 5.0% during the third quarter, HoldingsChannel.com reports. The fund owned 47,275 shares of the technology company’s stock after selling 2,462 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Arrow Electronics were worth $5,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Legacy Financial Group LLC purchased a new position in shares of Arrow Electronics during the third quarter worth approximately $25,000. SouthState Corp purchased a new position in shares of Arrow Electronics during the second quarter worth approximately $32,000. IFP Advisors Inc grew its position in shares of Arrow Electronics by 33.0% during the third quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics during the first quarter worth approximately $52,000. Finally, Gladius Capital Management LP grew its position in shares of Arrow Electronics by 27.1% during the third quarter. Gladius Capital Management LP now owns 441 shares of the technology company’s stock worth $55,000 after acquiring an additional 94 shares during the last quarter. 94.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARW has been the topic of a number of analyst reports. StockNews.com lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. Truist Financial lowered their price objective on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research report on Friday.

View Our Latest Stock Report on ARW

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $111.31 on Monday. The firm has a market capitalization of $6.03 billion, a P/E ratio of 7.05 and a beta of 1.40. Arrow Electronics, Inc. has a one year low of $108.77 and a one year high of $147.42. The company’s fifty day moving average is $117.67 and its two-hundred day moving average is $121.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 1.39.

Arrow Electronics (NYSE:ARWGet Free Report) last issued its earnings results on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, topping the consensus estimate of $3.72 by $0.26. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.84 billion. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The business’s revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.69 EPS. Analysts forecast that Arrow Electronics, Inc. will post 14.24 EPS for the current fiscal year.

Arrow Electronics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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