Federated Hermes Inc. Sells 799 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Federated Hermes Inc. trimmed its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,382 shares of the technology company’s stock after selling 799 shares during the period. Federated Hermes Inc.’s holdings in Arrow Electronics were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wambolt & Associates LLC raised its holdings in shares of Arrow Electronics by 9.7% in the 2nd quarter. Wambolt & Associates LLC now owns 8,644 shares of the technology company’s stock valued at $1,031,000 after purchasing an additional 765 shares during the period. American Century Companies Inc. raised its stake in Arrow Electronics by 69.6% in the second quarter. American Century Companies Inc. now owns 55,962 shares of the technology company’s stock valued at $6,758,000 after buying an additional 22,966 shares during the period. Studio Investment Management LLC lifted its position in shares of Arrow Electronics by 15.2% in the second quarter. Studio Investment Management LLC now owns 2,765 shares of the technology company’s stock valued at $334,000 after buying an additional 364 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Arrow Electronics by 33.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 63,021 shares of the technology company’s stock worth $7,610,000 after acquiring an additional 15,926 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of Arrow Electronics during the 2nd quarter worth approximately $529,000. 99.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARW has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Truist Financial increased their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Raymond James boosted their price objective on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Trading Down 1.7 %

ARW stock opened at $131.64 on Monday. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $136.93. The company has a market capitalization of $7.01 billion, a PE ratio of 10.35 and a beta of 1.27. The company’s 50-day simple moving average is $127.46 and its 200 day simple moving average is $126.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.52 billion. During the same quarter in the prior year, the business posted $4.37 EPS. The business’s revenue was down 19.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

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.