Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,562 shares of the technology company’s stock after selling 150 shares during the quarter. State of Alaska Department of Revenue’s holdings in Arrow Electronics were worth $3,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARW. Pacer Advisors Inc. increased its position in shares of 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 purchasing an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. grew 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 buying an additional 20,484 shares during the last quarter. State Street Corp increased its position in Arrow Electronics by 0.3% during the third quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after buying an additional 4,811 shares during the period. Lind Value II ApS lifted 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 buying an additional 172,669 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Arrow Electronics by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company’s stock valued at $64,281,000 after acquiring an additional 10,340 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Down 2.3 %

Shares of Arrow Electronics stock opened at $107.15 on Monday. The company has a market cap of $5.63 billion, a P/E ratio of 14.72 and a beta of 1.26. The firm has a fifty day moving average of $116.05 and a two-hundred day moving average of $123.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.46. Arrow Electronics, Inc. has a one year low of $105.00 and a one year high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that Arrow Electronics, Inc. will post 12.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARW has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a report on Friday. 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. Raymond James decreased their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Bank of America cut Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $121.25.

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.