Arrow Electronics, Inc. (NYSE:ARW) Stake Cut by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. trimmed its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 42.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,325 shares of the technology company's stock after selling 20,455 shares during the period. University of Texas Texas AM Investment Management Co. owned about 0.05% of Arrow Electronics worth $3,091,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ARW. BOK Financial Private Wealth Inc. acquired a new stake in Arrow Electronics in the 4th quarter worth about $25,000. Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics during the 4th quarter worth about $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of Arrow Electronics in the fourth quarter worth approximately $47,000. Principal Securities Inc. grew its holdings in Arrow Electronics by 35.7% in the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock valued at $54,000 after purchasing an additional 126 shares during the period. Finally, CoreFirst Bank & Trust acquired a new position in Arrow Electronics during the fourth quarter worth approximately $55,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Stock Up 2.4%

NYSE ARW traded up $2.82 on Tuesday, reaching $119.95. The company had a trading volume of 345,632 shares, compared to its average volume of 492,497. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. Arrow Electronics, Inc. has a 1 year low of $86.50 and a 1 year high of $137.80. The firm has a 50-day moving average of $108.52 and a 200-day moving average of $111.95. The firm has a market capitalization of $6.22 billion, a PE ratio of 16.48, a P/E/G ratio of 0.52 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.32 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. The business's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARW. Wells Fargo & Company lowered their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a research note on Friday, February 7th. Bank of America lowered Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $121.25.

Insider Activity

In related news, Director William F. Austen purchased 1,900 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the purchase, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. This represents a 31.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gail Hamilton sold 1,458 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $178,444.62. Following the transaction, the director now directly owns 101 shares of the company's stock, valued at approximately $12,361.39. This represents a 93.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Arrow Electronics 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.