Arizona State Retirement System Reduces Stake in Arrow Electronics, Inc. (NYSE:ARW)

Arizona State Retirement System lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 1.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 15,086 shares of the technology company’s stock after selling 280 shares during the quarter. Arizona State Retirement System’s holdings in Arrow Electronics were worth $1,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics in the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its stake in shares of Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Arrow Electronics in the 4th quarter valued at approximately $47,000. CoreFirst Bank & Trust purchased a new position in shares of Arrow Electronics in the 4th quarter valued at approximately $55,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Arrow Electronics in the 1st quarter valued at approximately $120,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Down 0.3%

Shares of NYSE:ARW opened at $130.36 on Friday. The stock has a fifty day simple moving average of $124.80 and a two-hundred day simple moving average of $114.28. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.65 and a beta of 1.10. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.33. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.32 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Transactions at Arrow Electronics

In other news, insider Eric Nowak sold 4,952 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the completion of the transaction, the insider owned 43,895 shares in the company, valued at $5,372,309.05. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gail Hamilton sold 1,458 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the transaction, the director owned 101 shares of the company’s stock, valued at $12,361.39. This represents a 93.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,070 shares of company stock worth $1,116,062 over the last quarter. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

ARW has been the subject of a number of research analyst reports. Wall Street Zen cut Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America raised their target price on Arrow Electronics from $105.00 to $110.00 and gave the company an “underperform” rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $115.75.

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.