Teacher Retirement System of Texas Reduces Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Teacher Retirement System of Texas decreased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 8.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,857 shares of the technology company's stock after selling 5,367 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of Arrow Electronics worth $6,319,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ARW. BOK Financial Private Wealth Inc. purchased a new position in shares of Arrow Electronics in the fourth quarter worth $25,000. Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics during the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC raised its holdings in shares of Arrow Electronics by 111.7% during the first 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 during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Arrow Electronics during the 4th quarter valued at $47,000. Finally, CoreFirst Bank & Trust purchased a new stake in Arrow Electronics during the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 99.34% of the company's stock.

Arrow Electronics Price Performance

Shares of NYSE ARW traded up $0.70 during midday trading on Thursday, reaching $133.27. The stock had a trading volume of 492,019 shares, compared to its average volume of 487,933. The stock has a 50-day moving average of $122.64 and a 200-day moving average of $113.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 1.43. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80.

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, topping 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 business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.32 billion. During the same quarter in the prior year, the business posted $2.41 EPS. Arrow Electronics's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Arrow Electronics

In other news, Director Gail Hamilton sold 1,458 shares of the firm's stock in a transaction dated 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 transaction, the director owned 101 shares in the company, valued at $12,361.39. This trade represents a 93.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Nowak sold 4,952 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 43,895 shares of the company's stock, valued at approximately $5,372,309.05. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,070 shares of company stock valued at $1,116,062. Corporate insiders own 1.00% of the company's stock.

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.