Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 8.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,857 shares of the technology company's stock after selling 5,367 shares during the quarter. Teacher Retirement System of Texas owned 0.12% of Arrow Electronics worth $6,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ARW. Jones Financial Companies Lllp increased its position in shares of Arrow Electronics by 25.1% in the fourth quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company's stock valued at $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 valued at $56,436,000 after buying an additional 14,971 shares in the last quarter. 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 valued at $2,338,000 after buying an additional 192 shares in the last quarter. 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 valued at $573,000 after buying an additional 630 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Arrow Electronics in the fourth quarter valued at approximately $1,971,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Eric Nowak sold 4,952 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the transaction, the insider owned 43,895 shares of the company's stock, valued at $5,372,309.05. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gail Hamilton sold 1,458 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the sale, the director owned 101 shares in the company, valued at $12,361.39. This represents a 93.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,070 shares of company stock valued at $1,116,062 in the last quarter. Insiders own 0.80% of the company's stock.

Arrow Electronics Trading Down 1.4%

NYSE ARW traded down $1.82 on Monday, reaching $130.35. 340,255 shares of the company were exchanged, compared to its average volume of 486,933. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The business's fifty day moving average price is $121.45 and its 200 day moving average price is $113.08. The stock has a market capitalization of $6.76 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. 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 (NYSE:ARW - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 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 business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same quarter in the prior year, the company posted $2.41 EPS. The company's quarterly revenue was down 1.6% on a year-over-year basis. Analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Ratings Changes

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

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.