Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by State of New Jersey Common Pension Fund D

Posted by on Apr 23rd, 2023

State of New Jersey Common Pension Fund D trimmed its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 17.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,213 shares of the technology company’s stock after selling 6,412 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Arrow Electronics were worth $3,159,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its stake in Arrow Electronics by 31.9% during the 4th quarter. Lindbrook Capital LLC now owns 389 shares of the technology company’s stock valued at $41,000 after acquiring an additional 94 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Arrow Electronics during the 1st quarter valued at $52,000. Covestor Ltd boosted its stake in Arrow Electronics by 55.6% during the 1st quarter. Covestor Ltd now owns 879 shares of the technology company’s stock valued at $104,000 after acquiring an additional 314 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Arrow Electronics by 137.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 930 shares of the technology company’s stock valued at $86,000 after acquiring an additional 538 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Arrow Electronics by 30.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 965 shares of the technology company’s stock valued at $88,000 after acquiring an additional 228 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, Chairman Michael J. Long sold 3,712 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $120.29, for a total transaction of $446,516.48. Following the sale, the chairman now directly owns 209,172 shares in the company, valued at approximately $25,161,299.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arrow Electronics news, insider Kristin Diana Russell sold 10,306 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $117.70, for a total transaction of $1,213,016.20. Following the sale, the insider now directly owns 14,535 shares in the company, valued at approximately $1,710,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael J. Long sold 3,712 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $120.29, for a total transaction of $446,516.48. Following the sale, the chairman now owns 209,172 shares in the company, valued at $25,161,299.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,010 shares of company stock valued at $4,612,191. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ARW shares. Truist Financial increased their price objective on shares of Arrow Electronics from $116.00 to $131.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. StockNews.com upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Monday, April 10th. The Goldman Sachs Group raised their price target on shares of Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Wells Fargo & Company raised their price target on shares of Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. Finally, Raymond James raised their price target on shares of Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.33.

Arrow Electronics Trading Down 0.8 %

Shares of NYSE:ARW opened at $111.98 on Friday. The company has a market cap of $6.45 billion, a PE ratio of 5.14, a P/E/G ratio of 1.79 and a beta of 1.40. The company’s 50-day moving average price is $118.97 and its 200 day moving average price is $111.75. Arrow Electronics, Inc. has a fifty-two week low of $89.38 and a fifty-two week high of $134.56. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 0.57.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The technology company reported $5.69 earnings per share for the quarter, beating the consensus estimate of $5.68 by $0.01. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.31 billion. Arrow Electronics had a net margin of 3.84% and a return on equity of 26.96%. Arrow Electronics’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $5.37 EPS. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 15.8 earnings per share for the current year.

Arrow Electronics Profile

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Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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