Crossmark Global Holdings Inc. Decreases Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Crossmark Global Holdings Inc. lessened its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,809 shares of the technology company’s stock after selling 855 shares during the period. Crossmark Global Holdings Inc.’s holdings in Arrow Electronics were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd raised its stake in Arrow Electronics by 14.0% during the third quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock valued at $141,000 after purchasing an additional 131 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Arrow Electronics by 36.7% in the 3rd quarter. Atria Investments Inc now owns 4,433 shares of the technology company’s stock worth $589,000 after buying an additional 1,190 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Arrow Electronics during the 3rd quarter valued at about $73,000. Two Point Capital Management Inc. grew its position in Arrow Electronics by 1.6% in the third quarter. Two Point Capital Management Inc. now owns 21,919 shares of the technology company’s stock worth $2,912,000 after acquiring an additional 335 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Arrow Electronics by 6.4% during the third quarter. QRG Capital Management Inc. now owns 7,421 shares of the technology company’s stock valued at $986,000 after purchasing an additional 445 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Down 0.0 %

Shares of NYSE ARW opened at $115.18 on Friday. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 12.85 and a beta of 1.27. The stock has a 50 day moving average price of $128.61 and a 200 day moving average price of $127.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.14 EPS. Sell-side analysts expect that Arrow Electronics, Inc. will post 10.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARW has been the topic of several analyst reports. Raymond James cut their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial reduced their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research 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 issued a buy rating to the stock. Based on data from MarketBeat, Arrow Electronics has a consensus rating of “Hold” and an average target price of $124.25.

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.