Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,023 shares of the technology company’s stock after selling 183 shares during the period. PNC Financial Services Group Inc.’s holdings in Arrow Electronics were worth $1,066,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ARW. Pacer Advisors Inc. lifted its holdings in 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 during the last quarter. Boston Partners lifted its holdings in shares of Arrow Electronics by 108.5% in the 1st quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock worth $129,622,000 after purchasing an additional 521,117 shares during the last quarter. Lind Value II ApS acquired a new position in Arrow Electronics during the 1st quarter valued at approximately $66,949,000. Dimensional Fund Advisors LP grew its stake in Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after buying an additional 325,122 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Arrow Electronics by 657.5% in the first quarter. Janus Henderson Group PLC now owns 222,888 shares of the technology company’s stock worth $28,854,000 after buying an additional 193,462 shares during the period. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

Shares of ARW opened at $119.39 on Thursday. The firm has a market capitalization of $6.28 billion, a PE ratio of 13.32 and a beta of 1.27. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $127.45 and a 200 day moving average price of $127.29. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data 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 period last year, the firm posted $4.14 earnings per share. The business’s revenue was down 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARW has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Truist Financial cut their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Raymond James decreased their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.