New York State Common Retirement Fund trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 11.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,070 shares of the technology company’s stock after selling 47,360 shares during the quarter. New York State Common Retirement Fund owned about 0.42% of Arrow Electronics worth $29,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC increased its stake in shares of Arrow Electronics by 489.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock worth $110,000 after acquiring an additional 1,170 shares in the last quarter. Paragon Capital Management Ltd bought a new position in shares of Arrow Electronics in the 3rd quarter worth about $201,000. Advisor Partners LLC increased its stake in shares of Arrow Electronics by 2.6% in the 2nd quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock worth $220,000 after acquiring an additional 71 shares in the last quarter. Timber Hill LLC bought a new position in shares of Arrow Electronics in the 2nd quarter worth about $234,000. Finally, OLD National Bancorp IN bought a new position in shares of Arrow Electronics in the 3rd quarter worth about $244,000. Institutional investors own 91.78% of the company’s stock.
Shares of Arrow Electronics, Inc. (ARW) opened at $77.88 on Friday. Arrow Electronics, Inc. has a 1 year low of $68.55 and a 1 year high of $84.53. The company has a market cap of $6,851.34, a PE ratio of 11.03, a P/E/G ratio of 0.93 and a beta of 1.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.58.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.82 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.82. Arrow Electronics had a net margin of 2.00% and a return on equity of 13.63%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the firm posted $1.56 EPS. Arrow Electronics’s revenue for the quarter was up 17.1% on a year-over-year basis. equities analysts predict that Arrow Electronics, Inc. will post 7.35 earnings per share for the current fiscal year.
ARW has been the subject of several research reports. Zacks Investment Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price objective on shares of Arrow Electronics in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Arrow Electronics presently has a consensus rating of “Hold” and an average target price of $83.25.
In other news, Director Gail Hamilton sold 4,800 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $78.33, for a total transaction of $375,984.00. Following the sale, the director now owns 91 shares of the company’s stock, valued at approximately $7,128.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew R. Anderson sold 1,416 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.00, for a total transaction of $111,864.00. Following the sale, the senior vice president now directly owns 1,416 shares in the company, valued at approximately $111,864. The disclosure for this sale can be found here. Insiders have sold a total of 10,032 shares of company stock worth $788,816 over the last three months. 1.20% of the stock is currently owned by insiders.
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Arrow Electronics Profile
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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