University of Texas Texas AM Investment Management Co. Sells 2,674 Shares of Arrow Electronics, Inc. (NYSE:ARW)

University of Texas Texas AM Investment Management Co. lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 6.2% in the second quarter, Holdings Channel reports. The firm owned 40,403 shares of the technology company’s stock after selling 2,674 shares during the quarter. Arrow Electronics comprises about 1.0% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 21st biggest position. University of Texas Texas AM Investment Management Co.’s holdings in Arrow Electronics were worth $4,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Arrow Electronics during the first quarter worth $32,000. Versant Capital Management Inc increased its stake in shares of Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after purchasing an additional 150 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Arrow Electronics in the 1st quarter valued at about $81,000. Finally, Quarry LP bought a new position in Arrow Electronics during the second quarter worth about $107,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ARW shares. Raymond James upped their price objective on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial lifted their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Arrow Electronics presently has an average rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $131.79 on Wednesday. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 10.36 and a beta of 1.27. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $136.93. The stock’s 50 day moving average is $128.47 and its 200-day moving average is $127.02.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the previous year, the firm posted $4.37 EPS. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. Equities research analysts expect that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

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.