State of Tennessee Department of Treasury Sells 688 Shares of Arrow Electronics, Inc. (NYSE:ARW)

State of Tennessee Department of Treasury decreased its stake in Arrow Electronics, Inc. (NYSE:ARWFree Report) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,412 shares of the technology company’s stock after selling 688 shares during the period. State of Tennessee Department of Treasury’s holdings in Arrow Electronics were worth $2,761,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ARW. BOK Financial Private Wealth Inc. bought a new position in shares of Arrow Electronics in the 4th quarter valued at $25,000. Brown Brothers Harriman & Co. acquired a new position in Arrow Electronics in the 4th quarter worth about $31,000. New Age Alpha Advisors LLC bought a new position in Arrow Electronics in the fourth quarter valued at about $47,000. Principal Securities Inc. boosted its stake in shares of Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock valued at $54,000 after purchasing an additional 126 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Buying and Selling at Arrow Electronics

In related news, CAO Yun Sung Cho sold 353 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the transaction, the chief accounting officer now directly owns 1,549 shares of the company’s stock, valued at $173,658.39. This represents a 18.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Austen acquired 1,900 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now directly owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ARW. Wells Fargo & Company reduced their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a report on Friday, February 7th. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $121.25.

Check Out Our Latest Research Report on ARW

Arrow Electronics Price Performance

Arrow Electronics stock opened at $111.83 on Monday. The firm has a market cap of $5.80 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.52 and a beta of 1.18. The stock’s 50 day moving average is $104.32 and its 200 day moving average is $113.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $137.80.

Arrow Electronics (NYSE:ARWGet Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, beating 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%. As a group, research analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

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.

Read More

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

Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.