Mutual of America Capital Management LLC Cuts Position in Arrow Electronics, Inc. (NYSE:ARW)

Mutual of America Capital Management LLC reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 6.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 28,616 shares of the technology company’s stock after selling 1,861 shares during the period. Mutual of America Capital Management LLC’s holdings in Arrow Electronics were worth $3,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Arrow Electronics by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after acquiring an additional 325,122 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in shares of Arrow Electronics by 1.7% in the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after purchasing an additional 32,052 shares in the last quarter. Cooke & Bieler LP increased its stake in Arrow Electronics by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock worth $226,722,000 after buying an additional 56,781 shares during the period. Earnest Partners LLC lifted its holdings in Arrow Electronics by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock worth $169,979,000 after buying an additional 33,051 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Arrow Electronics by 9,044.0% in the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after acquiring an additional 1,204,837 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

NYSE:ARW opened at $117.17 on Friday. The firm has a market capitalization of $6.16 billion, a PE ratio of 13.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The business’s fifty day moving average price is $127.96 and its 200 day moving average price is $127.48. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the business posted $4.14 EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James reduced their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial decreased their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. One 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $124.25.

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.