Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,771 shares of the technology company's stock after selling 2,812 shares during the quarter. New York State Teachers Retirement System owned 0.10% of Arrow Electronics worth $6,083,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Two Point Capital Management Inc. boosted its holdings in Arrow Electronics by 2.3% during the fourth quarter. Two Point Capital Management Inc. now owns 22,428 shares of the technology company's stock worth $2,675,000 after buying an additional 509 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 buying an additional 1,030 shares in the last quarter. Quent Capital LLC lifted its holdings in Arrow Electronics by 45.1% during the fourth quarter. Quent Capital LLC now owns 1,246 shares of the technology company's stock valued at $141,000 after purchasing an additional 387 shares in the last quarter. Polaris Capital Management LLC grew its position in shares of Arrow Electronics by 1.1% in the fourth quarter. Polaris Capital Management LLC now owns 261,203 shares of the technology company's stock valued at $29,547,000 after purchasing an additional 2,800 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Arrow Electronics by 5.6% in the fourth quarter. Empowered Funds LLC now owns 28,926 shares of the technology company's stock valued at $3,272,000 after purchasing an additional 1,529 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arrow Electronics news, CAO Yun Sung Cho sold 237 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the sale, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARW. Bank of America lowered shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday, February 7th. Truist Financial reduced their price target 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. Wells Fargo & Company lowered their price target 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. Finally, Raymond James lowered their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $121.25.

Arrow Electronics Stock Performance

ARW stock traded down $1.65 on Friday, hitting $110.55. The company's stock had a trading volume of 221,086 shares, compared to its average volume of 493,622. The firm has a 50 day moving average of $113.89 and a two-hundred day moving average of $122.49. Arrow Electronics, Inc. has a 1 year low of $105.00 and a 1 year high of $137.80. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.53 and a beta of 1.26. 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 (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 EPS 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%. Equities analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Arrow Electronics Company 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.