Texas Permanent School Fund Corp lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,275 shares of the technology company’s stock after selling 2,462 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Arrow Electronics worth $5,921,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of ARW. Moneta Group Investment Advisors LLC bought a new stake in Arrow Electronics during the fourth quarter worth about $230,362,000. Norges Bank bought a new stake in Arrow Electronics during the fourth quarter worth about $65,602,000. Greenhaven Associates Inc. boosted its stake in Arrow Electronics by 17.3% during the third quarter. Greenhaven Associates Inc. now owns 1,757,128 shares of the technology company’s stock worth $220,063,000 after acquiring an additional 259,090 shares in the last quarter. Millennium Management LLC boosted its stake in Arrow Electronics by 25.9% during the fourth quarter. Millennium Management LLC now owns 1,255,591 shares of the technology company’s stock worth $131,297,000 after acquiring an additional 258,224 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Arrow Electronics by 2.8% during the second quarter. BlackRock Inc. now owns 7,681,434 shares of the technology company’s stock worth $1,100,212,000 after acquiring an additional 206,939 shares in the last quarter. Institutional investors own 94.79% of the company’s stock.
Arrow Electronics Trading Down 1.8 %
Shares of NYSE ARW opened at $111.31 on Monday. The firm’s 50 day moving average price is $117.67 and its 200-day moving average price is $121.91. The company has a market cap of $6.03 billion, a PE ratio of 7.05 and a beta of 1.40. Arrow Electronics, Inc. has a 52-week low of $108.77 and a 52-week high of $147.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 1.39.
Analysts Set New Price Targets
Several research firms recently commented on ARW. Truist Financial dropped their price objective on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note on Friday. StockNews.com downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 13th.
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.
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