South Dakota Investment Council Sells 13,028 Shares of Arrow Electronics, Inc. (NYSE:ARW)

South Dakota Investment Council lessened its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 19.5% in the 1st quarter, according to its most recent 13F filing 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 quarter. South Dakota Investment Council owned 0.10% of Arrow Electronics worth $5,600,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Arrow Electronics by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,864 shares of the technology company's stock valued at $1,232,000 after buying an additional 2,982 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Arrow Electronics in the 1st quarter valued at about $356,000. GAMMA Investing LLC raised its holdings in shares of Arrow Electronics by 201.3% in the 1st quarter. GAMMA Investing LLC now owns 2,597 shares of the technology company's stock valued at $270,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Edgestream Partners L.P. grew its position in shares of Arrow Electronics by 99.5% in the 1st quarter. Edgestream Partners L.P. now owns 115,474 shares of the technology company's stock worth $11,990,000 after buying an additional 57,590 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $130.36 on Friday. The firm has a 50-day simple moving average of $124.80 and a 200-day simple moving average of $114.28. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.10. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $6.32 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. The company's revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Nowak sold 4,952 shares of the business'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 $606,075.28. Following the completion of the sale, the insider owned 43,895 shares in the company, valued at approximately $5,372,309.05. The trade was a 10.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director owned 101 shares of the company's stock, valued at $12,361.39. This represents a 93.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,070 shares of company stock worth $1,116,062 over the last 90 days. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARW. Bank of America raised their target price on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a research note on Monday, June 9th. Wall Street Zen downgraded shares of Arrow Electronics from a "buy" rating to a "hold" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $115.75.

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.

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