Illinois Municipal Retirement Fund Reduces Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Illinois Municipal Retirement Fund trimmed its position in Arrow Electronics, Inc. (NYSE:ARW) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,524 shares of the technology company’s stock after selling 8,780 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Arrow Electronics worth $3,000,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of Arrow Electronics by 71.9% during 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 during the period. Greenhaven Associates Inc. raised its holdings in Arrow Electronics by 1.1% in the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock valued at $215,477,000 after acquiring an additional 20,484 shares during the last quarter. State Street Corp lifted its stake in shares of Arrow Electronics by 0.3% during the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after purchasing an additional 4,811 shares during the period. Lind Value II ApS boosted its holdings in shares of Arrow Electronics by 36.3% during the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after purchasing an additional 172,669 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Arrow Electronics by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company’s stock valued at $64,281,000 after purchasing an additional 10,340 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the sale, the chief accounting officer now directly owns 2,086 shares in the company, valued at approximately $226,810.78. This trade represents a 10.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Arrow Electronics Trading Down 1.5 %

NYSE ARW opened at $108.27 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. Arrow Electronics, Inc. has a one year low of $105.00 and a one year high of $137.80. The company’s 50 day moving average price is $113.29 and its 200 day moving average price is $122.07. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial reduced their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Raymond James cut their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Bank of America downgraded shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.25.

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.