Swiss National Bank Sells 2,200 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Swiss National Bank decreased its position in Arrow Electronics, Inc. (NYSE:ARW) by 2.1% during the third quarter, Holdings Channel reports. The fund owned 104,000 shares of the technology company’s stock after selling 2,200 shares during the period. Swiss National Bank’s holdings in Arrow Electronics were worth $13,814,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Arrow Electronics in the second quarter valued at about $938,000. Tidal Investments LLC lifted its holdings in Arrow Electronics by 124.1% in the first quarter. Tidal Investments LLC now owns 12,644 shares of the technology company’s stock valued at $1,637,000 after acquiring an additional 7,002 shares during the period. Edgestream Partners L.P. bought a new position in Arrow Electronics in the second quarter valued at about $1,267,000. Texas Permanent School Fund Corp lifted its holdings in Arrow Electronics by 33.8% in the second quarter. Texas Permanent School Fund Corp now owns 63,021 shares of the technology company’s stock valued at $7,610,000 after acquiring an additional 15,926 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings 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 valued at $28,854,000 after acquiring an additional 193,462 shares during the period. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

NYSE:ARW opened at $119.25 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The stock has a 50-day moving average price of $127.85 and a 200 day moving average price of $127.41. The stock has a market capitalization of $6.27 billion, a P/E ratio of 13.31 and a beta of 1.27.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Raymond James reduced their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.