New York State Common Retirement Fund Sells 3,000 Shares of Arrow Electronics, Inc. (NYSE:ARW)

New York State Common Retirement Fund decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,169 shares of the technology company’s stock after selling 3,000 shares during the quarter. New York State Common Retirement Fund owned 0.17% of Arrow Electronics worth $9,861,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning lifted its position in shares of Arrow Electronics by 1.1% during the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock worth $1,486,000 after purchasing an additional 123 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Arrow Electronics by 60.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,313 shares of the technology company’s stock valued at $971,000 after buying an additional 2,748 shares during the period. Sequoia Financial Advisors LLC bought a new position in Arrow Electronics in the 3rd quarter worth about $317,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Arrow Electronics during the third quarter worth approximately $88,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Arrow Electronics by 43.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,336 shares of the technology company’s stock valued at $1,107,000 after acquiring an additional 2,544 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Price Performance

Shares of ARW stock opened at $110.10 on Wednesday. The stock’s 50-day moving average is $113.40 and its 200 day moving average is $122.15. Arrow Electronics, Inc. has a 1-year low of $105.00 and a 1-year high of $137.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. The company has a market cap of $5.74 billion, a P/E ratio of 15.12, a PEG ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. Research analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on ARW shares. Raymond James reduced their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company decreased their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Finally, Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $121.25.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at $226,810.78. The trade was a 10.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

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.