Teachers Retirement System of The State of Kentucky decreased its stake in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,319 shares of the technology company’s stock after selling 700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Arrow Electronics were worth $1,224,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Arrow Electronics by 1.0% in the first quarter. BlackRock Inc. now owns 7,634,462 shares of the technology company’s stock worth $905,678,000 after acquiring an additional 78,423 shares during the period. Cooke & Bieler LP raised its position in shares of Arrow Electronics by 4.5% in the first quarter. Cooke & Bieler LP now owns 3,060,590 shares of the technology company’s stock valued at $363,078,000 after purchasing an additional 131,811 shares during the period. State Street Corp raised its position in shares of Arrow Electronics by 0.4% in the fourth quarter. State Street Corp now owns 3,033,046 shares of the technology company’s stock valued at $407,247,000 after purchasing an additional 12,548 shares during the period. Dimensional Fund Advisors LP increased its holdings in Arrow Electronics by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,681,640 shares of the technology company’s stock worth $318,131,000 after acquiring an additional 34,794 shares during the period. Finally, Lyrical Asset Management LP increased its holdings in Arrow Electronics by 2.7% during the 1st quarter. Lyrical Asset Management LP now owns 1,449,182 shares of the technology company’s stock worth $171,916,000 after acquiring an additional 38,700 shares during the period. Institutional investors own 95.74% of the company’s stock.
Wall Street Analysts Forecast Growth
ARW has been the topic of a number of analyst reports. Wells Fargo & Company lowered shares of Arrow Electronics from an “equal weight” rating to an “underweight” rating in a report on Friday, September 16th. The Goldman Sachs Group decreased their target price on shares of Arrow Electronics from $158.00 to $127.00 in a report on Friday, July 15th. Finally, StockNews.com lowered shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Monday, July 18th.
Arrow Electronics Price Performance
Arrow Electronics (NYSE:ARW – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The technology company reported $5.78 EPS for the quarter, topping analysts’ consensus estimates of $5.57 by $0.21. Arrow Electronics had a net margin of 3.87% and a return on equity of 26.76%. The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the previous year, the company earned $3.34 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts predict that Arrow Electronics, Inc. will post 21.81 EPS for the current fiscal year.
Arrow Electronics announced that its Board of Directors has initiated a share buyback plan on Thursday, September 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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.
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