New York State Common Retirement Fund Trims Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

New York State Common Retirement Fund reduced its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,169 shares of the technology company's stock after selling 3,000 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of Arrow Electronics worth $9,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock worth $278,220,000 after acquiring an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. raised its stake in Arrow Electronics by 1.1% during the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company's stock worth $215,477,000 after acquiring an additional 20,484 shares in the last quarter. State Street Corp raised its stake in Arrow Electronics by 0.3% during the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company's stock worth $224,442,000 after acquiring an additional 4,811 shares in the last quarter. Lind Value II ApS raised its stake in Arrow Electronics by 36.3% during the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company's stock worth $73,374,000 after acquiring an additional 172,669 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Arrow Electronics by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company's stock worth $64,281,000 after acquiring an additional 10,340 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts have commented on ARW shares. Raymond James dropped their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Bank of America lowered shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Truist Financial dropped their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research note on Friday, February 7th. Two research 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 presently has an average rating of "Hold" and a consensus price target of $121.25.

Insider Activity

In other news, CAO Yun Sung Cho sold 237 shares of Arrow Electronics stock in a transaction dated 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. The trade was a 10.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Arrow Electronics Stock Performance

Shares of NYSE:ARW traded down $0.40 during midday trading on Friday, hitting $107.87. The stock had a trading volume of 476,139 shares, compared to its average volume of 511,237. The company has a market capitalization of $5.63 billion, a PE ratio of 14.82, a P/E/G ratio of 0.52 and a beta of 1.26. The stock has a 50 day moving average price of $113.01 and a two-hundred day moving average price of $121.84. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Arrow Electronics, Inc. has a 1 year low of $105.00 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. As a group, equities analysts predict that Arrow Electronics, Inc. will post 10.57 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.