California Public Employees Retirement System trimmed its stake in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,839 shares of the technology company’s stock after selling 3,005 shares during the period. California Public Employees Retirement System owned 0.47% of Arrow Electronics worth $30,204,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Panagora Asset Management Inc. lifted its stake in Arrow Electronics by 12.3% in the first quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock worth $413,000 after purchasing an additional 380 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of Arrow Electronics during the first quarter worth $273,000. Prudential PLC acquired a new position in Arrow Electronics during the first quarter valued at $302,000. Cetera Investment Advisers acquired a new position in Arrow Electronics during the first quarter valued at $275,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics in the first quarter valued at $52,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Arrow Electronics
In related news, Chairman Michael J. Long sold 884 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $120.00, for a total value of $106,080.00. Following the sale, the chairman now directly owns 208,288 shares of the company’s stock, valued at $24,994,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Michael J. Long sold 884 shares of Arrow Electronics stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $120.00, for a total transaction of $106,080.00. Following the transaction, the chairman now owns 208,288 shares of the company’s stock, valued at $24,994,560. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Michael J. Long sold 3,712 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $120.29, for a total value of $446,516.48. Following the completion of 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. Insiders have sold a total of 39,010 shares of company stock worth $4,612,191 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Arrow Electronics Price Performance
Shares of ARW opened at $118.83 on Thursday. The firm has a market cap of $6.71 billion, a PE ratio of 5.64, a PEG ratio of 1.90 and a beta of 1.40. The firm’s 50 day moving average price is $117.41 and its 200 day moving average price is $113.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.09 and a current ratio of 1.62. Arrow Electronics, Inc. has a twelve month low of $89.38 and a twelve month high of $134.56.
Arrow Electronics (NYSE:ARW – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported $4.60 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.13. Arrow Electronics had a net margin of 3.63% and a return on equity of 24.92%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.61 billion. During the same quarter in the previous year, the company earned $5.43 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. As a group, research analysts expect that Arrow Electronics, Inc. will post 15.8 EPS for the current fiscal year.
Arrow Electronics Profile
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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