New Mexico Educational Retirement Board acquired a new position in Arrow Electronics, Inc. (NYSE:ARW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 21,800 shares of the technology company’s stock, valued at approximately $1,753,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cooke & Bieler LP increased its holdings in shares of Arrow Electronics by 158.8% in the fourth quarter. Cooke & Bieler LP now owns 1,372,083 shares of the technology company’s stock worth $110,330,000 after buying an additional 842,003 shares during the period. OLD National Bancorp IN increased its holdings in shares of Arrow Electronics by 73.1% in the fourth quarter. OLD National Bancorp IN now owns 5,247 shares of the technology company’s stock worth $422,000 after buying an additional 2,215 shares during the period. Longview Partners Guernsey LTD increased its holdings in shares of Arrow Electronics by 0.6% in the fourth quarter. Longview Partners Guernsey LTD now owns 2,953,321 shares of the technology company’s stock worth $237,477,000 after buying an additional 17,217 shares during the period. California Public Employees Retirement System increased its holdings in shares of Arrow Electronics by 1.4% in the fourth quarter. California Public Employees Retirement System now owns 290,310 shares of the technology company’s stock worth $23,344,000 after buying an additional 4,050 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Arrow Electronics by 169.8% in the fourth quarter. Teacher Retirement System of Texas now owns 70,841 shares of the technology company’s stock worth $5,696,000 after buying an additional 44,586 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.
Shares of Arrow Electronics, Inc. (NYSE ARW) opened at $81.81 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.56 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $7,175.52, a PE ratio of 18.30, a P/E/G ratio of 0.96 and a beta of 1.17. Arrow Electronics, Inc. has a 12 month low of $69.67 and a 12 month high of $87.26.
Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.21. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.46 billion. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. Arrow Electronics’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $2.00 earnings per share. analysts predict that Arrow Electronics, Inc. will post 8.47 EPS for the current fiscal year.
Several research analysts have recently commented on ARW shares. Zacks Investment Research downgraded Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Pivotal Research started coverage on Arrow Electronics in a report on Tuesday, February 13th. They issued a “buy” rating and a $98.00 price objective on the stock. Finally, Raymond James Financial upgraded Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price objective on the stock in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Arrow Electronics has an average rating of “Buy” and an average target price of $90.00.
In related news, insider Sean J. Kerins sold 3,816 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total value of $300,967.92. Following the sale, the insider now directly owns 25,552 shares of the company’s stock, valued at $2,015,286.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.
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Arrow Electronics Company 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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