New York State Teachers Retirement System Sells 9,800 Shares of Arrow Electronics, Inc. (NYSE:ARW)

New York State Teachers Retirement System decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 18.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,971 shares of the technology company's stock after selling 9,800 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Arrow Electronics worth $4,566,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ARW. Jones Financial Companies Lllp lifted its holdings in shares of Arrow Electronics by 25.1% during the fourth quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company's stock worth $85,000 after buying an additional 151 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Arrow Electronics by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,907 shares of the technology company's stock worth $56,436,000 after purchasing an additional 14,971 shares during the period. Victory Capital Management Inc. increased its position in shares of Arrow Electronics by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 20,669 shares of the technology company's stock worth $2,338,000 after purchasing an additional 192 shares during the period. Atria Investments Inc increased its position in shares of Arrow Electronics by 14.2% in the fourth quarter. Atria Investments Inc now owns 5,063 shares of the technology company's stock worth $573,000 after purchasing an additional 630 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Arrow Electronics in the fourth quarter worth $1,971,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Insider Activity

In other news, Director Gail Hamilton sold 1,458 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $178,444.62. Following the completion of the sale, the director owned 101 shares in the company, valued at $12,361.39. The trade was a 93.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total value of $331,542.40. Following the sale, the senior vice president owned 17,057 shares of the company's stock, valued at approximately $2,125,984.48. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,070 shares of company stock worth $1,116,062 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price target on Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a research note on Monday, June 9th.

Arrow Electronics Trading Up 0.5%

ARW traded up $0.70 during trading on Thursday, hitting $133.27. The company's stock had a trading volume of 492,019 shares, compared to its average volume of 487,933. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The stock's fifty day moving average price is $122.64 and its 200-day moving average price is $113.45. The firm has a market capitalization of $6.91 billion, a P/E ratio of 18.36, a PEG ratio of 0.66 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.33. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same period in the previous year, the firm earned $2.41 earnings per share. The company's revenue was down 1.6% compared to the same quarter last year. Analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current 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.