PGGM Investments Has $7.41 Million Position in Arrow Electronics, Inc. (NYSE:ARW)

PGGM Investments cut its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,335 shares of the technology company’s stock after selling 3,484 shares during the quarter. PGGM Investments owned about 0.12% of Arrow Electronics worth $7,407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARW. Raymond James Financial Services Advisors Inc. boosted its stake in Arrow Electronics by 7.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,466 shares of the technology company’s stock valued at $301,000 after acquiring an additional 164 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Arrow Electronics by 58.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 122,987 shares of the technology company’s stock valued at $15,035,000 after acquiring an additional 45,373 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Arrow Electronics in the fourth quarter valued at approximately $1,858,000. Strs Ohio boosted its stake in Arrow Electronics by 0.6% in the fourth quarter. Strs Ohio now owns 18,681 shares of the technology company’s stock valued at $2,283,000 after acquiring an additional 120 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Arrow Electronics by 182.4% in the fourth quarter. Mackenzie Financial Corp now owns 40,472 shares of the technology company’s stock valued at $4,948,000 after acquiring an additional 26,142 shares during the last quarter. 99.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Gail Hamilton sold 2,987 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $132.59, for a total transaction of $396,046.33. Following the sale, the director now owns 102 shares in the company, valued at approximately $13,524.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Andrew Charles Kerin sold 1,520 shares of Arrow Electronics stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $131.66, for a total transaction of $200,123.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gail Hamilton sold 2,987 shares of Arrow Electronics 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 transaction, the director now directly owns 102 shares of the company’s stock, valued at approximately $13,524.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,976 shares of company stock worth $788,183. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Truist Financial boosted their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Raymond James upped their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Stock Performance

Arrow Electronics stock traded up $2.69 during trading hours on Thursday, hitting $129.07. The company had a trading volume of 32,961 shares, compared to its average volume of 496,134. The firm has a market cap of $6.87 billion, a PE ratio of 9.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $135.31. The firm has a 50-day moving average of $124.62 and a 200 day moving average of $123.50.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same quarter in the prior year, the business posted $4.37 EPS. The business’s revenue was down 19.0% compared to the same quarter last year. On average, sell-side analysts expect that Arrow Electronics, Inc. will post 10.34 earnings per share for the current year.

About Arrow Electronics

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.