UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,795 shares of the technology company's stock after selling 29,459 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.27% of Arrow Electronics worth $18,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in Arrow Electronics in the 3rd quarter valued at $40,000. Capital Performance Advisors LLP bought a new stake in shares of Arrow Electronics in the 3rd quarter worth $73,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Arrow Electronics in the third quarter valued at about $78,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Arrow Electronics during the third quarter valued at about $88,000. Finally, GAMMA Investing LLC boosted its holdings in Arrow Electronics by 24.6% during the third quarter. GAMMA Investing LLC now owns 695 shares of the technology company's stock worth $92,000 after purchasing an additional 137 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ARW shares. Truist Financial decreased their price objective 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. Raymond James dropped their price target on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. One 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 has a consensus rating of "Hold" and an average price target of $124.25.

Arrow Electronics Stock Performance

ARW traded up $1.13 during midday trading on Friday, reaching $120.49. The company had a trading volume of 268,508 shares, compared to its average volume of 460,932. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The business has a 50-day moving average price of $125.54 and a two-hundred day moving average price of $126.78. The stock has a market cap of $6.34 billion, a PE ratio of 13.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating 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 business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the business earned $4.14 earnings per share. Arrow Electronics's revenue for the quarter was down 14.8% on a year-over-year basis. On average, sell-side analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

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.