Illinois Municipal Retirement Fund Sells 8,780 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Illinois Municipal Retirement Fund trimmed its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,524 shares of the technology company's stock after selling 8,780 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of Arrow Electronics worth $3,000,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ARW. Pacer Advisors Inc. grew its position in Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock worth $278,220,000 after buying an additional 876,396 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Arrow Electronics by 1,072.6% during the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company's stock valued at $5,564,000 after acquiring an additional 37,746 shares during the last quarter. Cerity Partners LLC increased its position in shares of Arrow Electronics by 140.4% in the third quarter. Cerity Partners LLC now owns 12,034 shares of the technology company's stock worth $1,598,000 after purchasing an additional 7,028 shares during the last quarter. Lind Value II ApS raised its stake in Arrow Electronics by 36.3% in the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company's stock valued at $73,374,000 after purchasing an additional 172,669 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Arrow Electronics by 115.0% during the third quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock valued at $41,948,000 after purchasing an additional 168,904 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

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Arrow Electronics Trading Down 2.3 %

Arrow Electronics stock traded down $2.44 during mid-day trading on Monday, hitting $105.63. The company's stock had a trading volume of 501,503 shares, compared to its average volume of 510,991. The business has a 50 day moving average price of $113.01 and a 200-day moving average price of $121.77. Arrow Electronics, Inc. has a 12 month low of $105.00 and a 12 month high of $137.80. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. As a group, analysts forecast that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of 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 Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $121.25.

Insider Buying and Selling

In other Arrow Electronics news, CAO Yun Sung Cho sold 237 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $108.73, for a total value of $25,769.01. Following the sale, the chief accounting officer now owns 2,086 shares of the company's stock, valued at $226,810.78. This trade represents a 10.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

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.