Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Arrow Electronics, Inc. (NYSE:ARW) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,315 shares of the technology company’s stock after selling 1,383 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Arrow Electronics worth $8,543,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its holdings in Arrow Electronics by 71.9% in the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after buying an additional 876,396 shares in the last quarter. Cerity Partners LLC increased its stake in Arrow Electronics by 140.4% in the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company’s stock valued at $1,598,000 after purchasing an additional 7,028 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Arrow Electronics during the second quarter worth $1,267,000. Texas Permanent School Fund Corp boosted its position in Arrow Electronics by 33.8% during the second quarter. Texas Permanent School Fund Corp now owns 63,021 shares of the technology company’s stock worth $7,610,000 after purchasing an additional 15,926 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Arrow Electronics by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 566,984 shares of the technology company’s stock valued at $68,469,000 after purchasing an additional 30,786 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ARW has been the subject of several research reports. Truist Financial cut their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Raymond James cut their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st.

Arrow Electronics Stock Performance

NYSE ARW opened at $117.92 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The business has a fifty day moving average of $124.35 and a 200-day moving average of $126.30. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 13.16 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the previous year, the company posted $4.14 EPS. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. As a group, analysts predict that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Arrow Electronics Company 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.