Arrow Electronics, Inc. (NYSE:ARW) Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 30.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,597 shares of the technology company's stock after selling 54,705 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Arrow Electronics worth $16,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of 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 period. Boston Partners lifted its position in Arrow Electronics by 108.5% during the first quarter. Boston Partners now owns 1,001,443 shares of the technology company's stock valued at $129,622,000 after purchasing an additional 521,117 shares in the last quarter. Lind Value II ApS bought a new stake in Arrow Electronics during the first quarter valued at about $66,949,000. Dimensional Fund Advisors LP increased its position in Arrow Electronics by 13.4% in the second 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 in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of 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. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ARW shares. Wells Fargo & Company boosted their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. Raymond James dropped their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Finally, Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a research note on Friday, November 1st. One equities research 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, the company presently has a consensus rating of "Hold" and a consensus target price of $124.25.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock traded down $0.02 during trading on Friday, hitting $115.18. 640,575 shares of the company were exchanged, compared to its average volume of 464,539. 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 stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 12.85 and a beta of 1.27. The firm has a 50 day moving average price of $128.61 and a 200 day moving average price of $127.68. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. Arrow Electronics's revenue was down 14.8% compared to the same quarter last year. On average, equities analysts expect that Arrow Electronics, Inc. will post 10.29 earnings per share for the current fiscal year.

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.