Public Employees Retirement Association of Colorado Lowers Stake in Arrow Electronics, Inc. (NYSE:ARW)

Posted by on Aug 13th, 2023

Public Employees Retirement Association of Colorado cut its holdings in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,150 shares of the technology company’s stock after selling 1,442 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Arrow Electronics were worth $768,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ARW. 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 acquiring an additional 380 shares during the period. Blair William & Co. IL purchased a new stake in Arrow Electronics in the first quarter worth about $273,000. Prudential PLC purchased a new stake in Arrow Electronics in the first quarter worth about $302,000. Cetera Investment Advisers purchased a new stake in Arrow Electronics in the first quarter worth about $275,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Arrow Electronics in the first quarter worth about $52,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Trading Up 1.4 %

NYSE:ARW opened at $128.03 on Friday. The company has a market cap of $7.13 billion, a PE ratio of 6.52, a P/E/G ratio of 1.97 and a beta of 1.41. The business’s 50 day moving average is $137.97 and its two-hundred day moving average is $126.35. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 0.65. Arrow Electronics, Inc. has a 52 week low of $89.38 and a 52 week high of $147.42.

Arrow Electronics (NYSE:ARW – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.04. The firm had revenue of $8.51 billion during the quarter, compared to analysts’ expectations of $8.73 billion. Arrow Electronics had a return on equity of 22.19% and a net margin of 3.35%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.78 earnings per share. On average, analysts predict that Arrow Electronics, Inc. will post 16.03 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America lowered their price objective on shares of Arrow Electronics from $155.00 to $148.00 in a research note on Sunday, August 6th. StockNews.com upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, Truist Financial upped their price target on Arrow Electronics from $131.00 to $138.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Arrow Electronics has an average rating of “Hold” and a consensus price target of $129.57.

Get Our Latest Analysis on Arrow Electronics

Insiders Place Their Bets

In other Arrow Electronics news, Director Andrew Charles Kerin sold 1,419 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $123.09, for a total value of $174,664.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Gretchen Zech sold 4,000 shares of Arrow Electronics stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $126.26, for a total value of $505,040.00. Following the transaction, the senior vice president now directly owns 27,925 shares in the company, valued at $3,525,810.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Charles Kerin sold 1,419 shares of Arrow Electronics stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $123.09, for a total value of $174,664.71. The disclosure for this sale can be found here. Insiders sold 6,838 shares of company stock valued at $861,067 over the last quarter. Insiders own 1.00% of the company’s stock.

Arrow Electronics Profile

(Free Report)

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.

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

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