Retirement Systems of Alabama Has $8.29 Million Stake in Arrow Electronics, Inc. (NYSE:ARW)

Retirement Systems of Alabama reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 67,831 shares of the technology company’s stock after selling 1,670 shares during the quarter. Retirement Systems of Alabama’s holdings in Arrow Electronics were worth $8,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Arrow Electronics by 32.0% during the 4th quarter. Russell Investments Group Ltd. now owns 90,053 shares of the technology company’s stock worth $11,010,000 after buying an additional 21,827 shares during the period. AMH Equity Ltd bought a new stake in shares of Arrow Electronics in the fourth quarter valued at about $3,668,000. Two Point Capital Management Inc. grew its stake in shares of Arrow Electronics by 8.2% in the fourth quarter. Two Point Capital Management Inc. now owns 21,269 shares of the technology company’s stock valued at $2,600,000 after acquiring an additional 1,607 shares in the last quarter. Alaska Permanent Fund Corp increased its position in Arrow Electronics by 3.6% during the fourth quarter. Alaska Permanent Fund Corp now owns 18,033 shares of the technology company’s stock worth $2,205,000 after acquiring an additional 633 shares during the period. Finally, South Dakota Investment Council increased its position in Arrow Electronics by 3.6% during the fourth quarter. South Dakota Investment Council now owns 77,256 shares of the technology company’s stock worth $9,445,000 after acquiring an additional 2,700 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their price objective on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $124.75 on Friday. The firm has a market cap of $6.73 billion, a PE ratio of 7.90 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.00. The stock’s fifty day moving average price is $123.70 and its two-hundred day moving average price is $119.56. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $147.42.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, May 2nd. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.04. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. Arrow Electronics’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.60 EPS. As a group, research analysts expect that Arrow Electronics, Inc. will post 11.53 EPS for the current fiscal year.

Insider Buying and Selling at Arrow Electronics

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Richard John Marano sold 1,900 shares of Arrow Electronics stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total value of $221,274.00. Following the completion of the transaction, the insider now owns 12,108 shares in the company, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. Insiders have sold a total of 4,134 shares of company stock valued at $488,795 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

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.