Ironwood Investment Management LLC Sells 7,890 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Ironwood Investment Management LLC decreased its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 26.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,645 shares of the technology company's stock after selling 7,890 shares during the quarter. Arrow Electronics accounts for about 1.4% of Ironwood Investment Management LLC's investment portfolio, making the stock its 14th largest holding. Ironwood Investment Management LLC's holdings in Arrow Electronics were worth $2,614,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company's stock valued at $331,353,000 after buying an additional 325,122 shares during the last quarter. Greenhaven Associates Inc. lifted its stake in Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company's stock worth $227,377,000 after purchasing an additional 32,052 shares during the last quarter. Cooke & Bieler LP lifted its stake in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company's stock worth $226,722,000 after purchasing an additional 56,781 shares during the last quarter. Earnest Partners LLC lifted its stake in Arrow Electronics by 2.4% during the second quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company's stock worth $169,979,000 after purchasing an additional 33,051 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company's stock worth $147,105,000 after purchasing an additional 1,204,837 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Arrow Electronics Stock Down 0.9 %

Shares of NYSE ARW traded down $1.19 during trading hours on Monday, hitting $132.73. The stock had a trading volume of 328,849 shares, compared to its average volume of 480,926. The company has a market capitalization of $7.07 billion, a P/E ratio of 10.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The firm's 50-day moving average price is $128.47 and its two-hundred day moving average price is $127.02. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $136.93.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.62. The firm had revenue of $6.89 billion during the quarter, compared to analysts' expectations of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company's revenue was down 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.37 earnings per share. Analysts anticipate that Arrow Electronics, Inc. will post 10.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ARW shares. Wells Fargo & Company raised their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an "underweight" rating in a research note on Friday, August 2nd. Truist Financial raised their target price on Arrow Electronics from $124.00 to $141.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. Finally, Raymond James boosted their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an "outperform" rating in a 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 given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $130.75.

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.