Principal Financial Group Inc. cut its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 216,504 shares of the technology company’s stock after selling 6,597 shares during the period. Principal Financial Group Inc. owned approximately 0.39% of Arrow Electronics worth $27,115,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Legacy Financial Group LLC bought a new position in Arrow Electronics during the third quarter worth about $25,000. SouthState Corp acquired a new position in Arrow Electronics in the 2nd quarter worth approximately $32,000. IFP Advisors Inc grew its position in shares of Arrow Electronics by 33.0% in the third quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics in the first quarter valued at $52,000. Finally, Gladius Capital Management LP raised its stake in shares of Arrow Electronics by 27.1% during the 3rd quarter. Gladius Capital Management LP now owns 441 shares of the technology company’s stock worth $55,000 after buying an additional 94 shares during the last quarter. Institutional investors own 94.79% of the company’s stock.
Arrow Electronics Stock Performance
NYSE ARW traded down $0.97 on Friday, hitting $114.25. The stock had a trading volume of 422,937 shares, compared to its average volume of 527,907. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 6.38 and a beta of 1.40. The company’s 50-day moving average is $119.56 and its two-hundred day moving average is $124.58. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. Arrow Electronics, Inc. has a one year low of $109.54 and a one year high of $147.42.
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Arrow Electronics (NYSE:ARW – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.66. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Arrow Electronics had a net margin of 3.06% and a return on equity of 19.78%. On average, analysts expect that Arrow Electronics, Inc. will post 16.81 earnings per share for the current year.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $133.67.
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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.
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