State of Alaska Department of Revenue Increases Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

State of Alaska Department of Revenue increased its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 25.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,662 shares of the technology company's stock after buying an additional 7,100 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of Arrow Electronics worth $3,598,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Arrow Electronics

In other news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total value of $331,542.40. Following the sale, the senior vice president now directly owns 17,057 shares in the company, valued at $2,125,984.48. This represents a 13.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Nowak sold 4,952 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 43,895 shares of the company's stock, valued at $5,372,309.05. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,070 shares of company stock valued at $1,116,062 over the last quarter. Corporate insiders own 0.80% of the company's stock.

Analyst Ratings Changes

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

Arrow Electronics Price Performance

Shares of NYSE ARW traded up $0.56 during midday trading on Tuesday, hitting $126.52. The company had a trading volume of 575,349 shares, compared to its average volume of 488,772. 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 business has a 50-day simple moving average of $117.08 and a two-hundred day simple moving average of $112.47. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.62 and a beta of 1.09.

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

Arrow Electronics 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.