University of Texas Texas AM Investment Management Co. Has $4.88 Million Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

University of Texas Texas AM Investment Management Co. lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,403 shares of the technology company’s stock after selling 2,674 shares during the quarter. Arrow Electronics makes up approximately 1.0% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 21st biggest holding. University of Texas Texas AM Investment Management Co. owned about 0.08% of Arrow Electronics worth $4,879,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

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

Arrow Electronics Trading Down 0.8 %

NYSE ARW opened at $131.79 on Wednesday. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $136.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The firm has a market cap of $7.02 billion, a P/E ratio of 10.36 and a beta of 1.27. The stock’s 50-day moving average is $128.47 and its 200-day moving average is $127.02.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.16 by $0.62. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period last year, the company posted $4.37 EPS. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Arrow Electronics 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.