Arizona State Retirement System Trims Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Arizona State Retirement System decreased its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,561 shares of the technology company’s stock after selling 147 shares during the period. Arizona State Retirement System’s holdings in Arrow Electronics were worth $1,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Trust Point Inc. purchased a new position in shares of Arrow Electronics in the 4th quarter worth about $278,000. Oak Thistle LLC purchased a new position in Arrow Electronics in the fourth quarter valued at approximately $1,012,000. Fifth Third Bancorp lifted its position in Arrow Electronics by 2.7% during the fourth quarter. Fifth Third Bancorp now owns 27,601 shares of the technology company’s stock valued at $3,374,000 after buying an additional 722 shares in the last quarter. Blue Trust Inc. grew its stake in Arrow Electronics by 14.4% during the fourth quarter. Blue Trust Inc. now owns 1,987 shares of the technology company’s stock worth $249,000 after buying an additional 250 shares during the period. Finally, Tectonic Advisors LLC increased its position in shares of Arrow Electronics by 8.7% in the fourth quarter. Tectonic Advisors LLC now owns 2,589 shares of the technology company’s stock worth $317,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Buying and Selling at Arrow Electronics

In related news, insider Richard John Marano sold 1,900 shares of Arrow Electronics stock in a transaction on 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 sale, the insider now owns 12,108 shares in the company, valued at $1,410,097.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Richard John Marano sold 1,900 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the transaction, the insider now owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. 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 three months. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered their price target on 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 Stock Down 2.7 %

Shares of NYSE:ARW opened at $124.25 on Friday. The company has a 50 day moving average of $120.09 and a two-hundred day moving average of $119.19. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $147.42. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 7.87 and a beta of 1.41.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.26. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.84 billion. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The business’s revenue was down 15.8% on a year-over-year basis. During the same period last year, the business earned $5.69 EPS. As a group, analysts forecast that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

About Arrow Electronics

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.