South Dakota Investment Council Cuts Stake in Arrow Electronics, Inc. (NYSE:ARW)

South Dakota Investment Council reduced its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 19.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,931 shares of the technology company's stock after selling 13,028 shares during the period. South Dakota Investment Council owned about 0.10% of Arrow Electronics worth $5,600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC boosted its stake in Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Arrow Electronics in the 4th quarter worth approximately $47,000. CoreFirst Bank & Trust acquired a new stake in Arrow Electronics during the 4th quarter valued at approximately $55,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Arrow Electronics during the 1st quarter valued at approximately $120,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARW. Bank of America upped their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a report on Monday, June 9th. Wall Street Zen lowered shares of Arrow Electronics from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $115.75.

Insider Activity at Arrow Electronics

In related news, Director Gail Hamilton sold 1,458 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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 of the company's stock, valued at $12,361.39. This trade represents a 93.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total transaction of $331,542.40. Following the completion of the sale, the senior vice president owned 17,057 shares in the company, valued at approximately $2,125,984.48. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,070 shares of company stock valued at $1,116,062 in the last three months. Corporate insiders own 0.80% of the company's stock.

Arrow Electronics Price Performance

NYSE:ARW traded up $0.50 during mid-day trading on Wednesday, reaching $130.96. 86,933 shares of the stock were exchanged, compared to its average volume of 484,519. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $137.80. The firm has a market capitalization of $6.79 billion, a PE ratio of 18.05, a PEG ratio of 0.65 and a beta of 1.10. The business has a fifty day moving average price of $125.15 and a 200 day moving average price of $114.54.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, topping 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 company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same quarter last year, the firm earned $2.41 EPS. Arrow Electronics's revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts expect that Arrow Electronics, Inc. will post 10.57 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.