Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,524 shares of the technology company’s stock after selling 8,780 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Arrow Electronics were worth $3,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after purchasing an additional 876,396 shares during the period. FMR LLC raised its holdings in shares of Arrow Electronics by 371.1% during the third quarter. FMR LLC now owns 434,905 shares of the technology company’s stock valued at $57,768,000 after buying an additional 342,590 shares during the last quarter. Lind Value II ApS boosted its position 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 buying an additional 172,669 shares during the period. JPMorgan Chase & Co. grew its holdings in Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after buying an additional 168,904 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Arrow Electronics by 220.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock valued at $19,859,000 after acquiring an additional 102,854 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARW. Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company reduced their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Raymond James lowered their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics Trading Down 1.5 %

Shares of Arrow Electronics stock opened at $108.27 on Friday. The business has a fifty day simple moving average of $113.29 and a 200-day simple moving average of $122.07. Arrow Electronics, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $137.80. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share 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%. On average, equities analysts forecast that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Arrow Electronics news, CAO Yun Sung Cho sold 237 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $108.73, for a total value of $25,769.01. Following the transaction, the chief accounting officer now owns 2,086 shares of the company’s stock, valued at approximately $226,810.78. This represents a 10.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

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.