New York State Teachers Retirement System Decreases Holdings in Arrow Electronics, Inc. (NYSE:ARW)

New York State Teachers Retirement System decreased its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,771 shares of the technology company’s stock after selling 2,812 shares during the period. New York State Teachers Retirement System owned 0.10% of Arrow Electronics worth $6,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARW. True Wealth Design LLC acquired a new position in Arrow Electronics during the 3rd quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new position in Arrow Electronics during the 3rd quarter valued at approximately $40,000. Capital Performance Advisors LLP acquired a new position in Arrow Electronics during the 3rd quarter valued at approximately $73,000. DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics during the 3rd quarter valued at approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Arrow Electronics during the 3rd quarter valued at approximately $88,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insiders Place Their Bets

In other Arrow Electronics news, CAO Yun Sung Cho sold 237 shares of Arrow Electronics 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 transaction, the chief accounting officer now directly owns 2,086 shares of the company’s stock, valued at $226,810.78. The trade was a 10.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

ARW has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Raymond James cut their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Truist Financial cut 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. 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. According to data from MarketBeat.com, Arrow Electronics has a consensus rating of “Hold” and an average target price of $121.25.

Arrow Electronics Stock Performance

ARW opened at $111.93 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.51 and a beta of 1.26. Arrow Electronics, Inc. has a 52-week low of $105.00 and a 52-week high of $137.80. The firm’s fifty day simple moving average is $114.08 and its two-hundred day simple moving average is $122.56.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share 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%. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

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.