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

Mutual of America Capital Management LLC lessened its stake in Arrow Electronics, Inc. (NYSE:ARW) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,477 shares of the technology company’s stock after selling 1,584 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Arrow Electronics worth $3,680,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ARW. Rise Advisors LLC acquired a new stake in shares of Arrow Electronics in the 1st quarter worth $32,000. Versant Capital Management Inc increased its position in Arrow Electronics by 794.6% during the second 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. increased its position in Arrow Electronics by 76.5% during the first 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 in the 1st quarter valued at about $81,000. Finally, Johnson Financial Group Inc. grew its stake in shares of Arrow Electronics by 17.1% in the 4th quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock valued at $115,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Down 1.7 %

Shares of NYSE ARW opened at $131.64 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $127.46 and its two-hundred day moving average is $126.54. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $136.93. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27.

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 the consensus estimate of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the previous year, the business earned $4.37 EPS. The company’s quarterly revenue was down 19.0% compared to the same quarter last year. Research analysts predict that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Analyst Ratings Changes

ARW has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Raymond James lifted their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Truist Financial increased their price target on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arrow Electronics currently has an average rating of “Hold” and a consensus price target of $130.75.

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.