Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,500 shares of the technology company’s stock after selling 445 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Arrow Electronics worth $6,593,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARW. Allspring Global Investments Holdings LLC raised its holdings in Arrow Electronics by 14.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,343 shares of the technology company’s stock worth $929,000 after purchasing an additional 1,030 shares during the last quarter. Principal Securities Inc. increased its position in Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after buying an additional 126 shares in the last quarter. Truist Financial Corp increased its position in Arrow Electronics by 16.5% during the fourth quarter. Truist Financial Corp now owns 5,225 shares of the technology company’s stock worth $591,000 after buying an additional 741 shares in the last quarter. Ieq Capital LLC increased its position in Arrow Electronics by 35.2% during the fourth quarter. Ieq Capital LLC now owns 8,723 shares of the technology company’s stock worth $987,000 after buying an additional 2,271 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in Arrow Electronics by 211.4% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 8,678 shares of the technology company’s stock worth $982,000 after buying an additional 5,891 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Bank of America raised their price target on Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Monday, June 9th.

Arrow Electronics Stock Performance

Arrow Electronics stock opened at $126.24 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 1.43. The stock has a fifty day moving average of $117.08 and a two-hundred day moving average of $112.47. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 0.62 and a beta of 1.09. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80.

Arrow Electronics (NYSE:ARW) last released 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. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.32 billion. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. Arrow Electronics’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 earnings per share. On average, analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Gail Hamilton sold 1,458 shares of Arrow Electronics 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 sale, the director now owns 101 shares of the company’s stock, valued at $12,361.39. The trade was a 93.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total value of $331,542.40. Following the completion of the sale, the senior vice president now directly owns 17,057 shares of the company’s stock, valued at approximately $2,125,984.48. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,070 shares of company stock valued at $1,116,062 over the last quarter. Company insiders own 0.80% of the company’s stock.

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.