Teachers Retirement System of The State of Kentucky Cuts Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,543 shares of the technology company’s stock after selling 900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Arrow Electronics were worth $2,389,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in Arrow Electronics in the 4th quarter valued at about $79,027,000. Assenagon Asset Management S.A. lifted its position in shares of Arrow Electronics by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock valued at $65,859,000 after acquiring an additional 409,810 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Arrow Electronics by 67.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company’s stock worth $118,527,000 after acquiring an additional 380,383 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Arrow Electronics by 42.9% during the third quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock worth $145,244,000 after purchasing an additional 349,561 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Arrow Electronics by 56.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 851,790 shares of the technology company’s stock valued at $104,131,000 after purchasing an additional 306,371 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Trading Up 0.5 %

ARW opened at $126.44 on Friday. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 9.94 and a beta of 1.30. The company’s 50 day simple moving average is $128.40 and its two-hundred day simple moving average is $122.43. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $147.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.04. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.08 billion. During the same quarter last year, the business posted $4.60 earnings per share. The firm’s revenue was down 20.7% compared to the same quarter last year. Analysts expect that Arrow Electronics, Inc. will post 10.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andrew Charles Kerin sold 1,469 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $130.71, for a total value of $192,012.99. Following the completion of the sale, the director now owns 1,520 shares of the company’s stock, valued at approximately $198,679.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $132.59, for a total transaction of $396,046.33. Following the completion of the sale, the director now owns 102 shares of the company’s stock, valued at $13,524.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrew Charles Kerin sold 1,469 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $130.71, for a total value of $192,012.99. Following the sale, the director now directly owns 1,520 shares of the company’s stock, valued at approximately $198,679.20. The disclosure for this sale can be found here. Insiders have sold 5,976 shares of company stock valued at $788,183 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th.

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.