New York State Teachers Retirement System Sells 3,053 Shares of Arrow Electronics, Inc. (NYSE:ARW)

New York State Teachers Retirement System lessened its position in Arrow Electronics, Inc. (NYSE:ARW) by 5.1% in the 3rd quarter, Holdings Channel reports. The firm owned 56,583 shares of the technology company’s stock after selling 3,053 shares during the period. New York State Teachers Retirement System’s holdings in Arrow Electronics were worth $7,516,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after buying an additional 150 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth about $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth about $88,000. Finally, GAMMA Investing LLC lifted its stake in shares of Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after buying an additional 137 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ARW. Truist Financial lowered their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday. Raymond James lowered their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company raised their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and an average price target of $124.25.

Arrow Electronics Price Performance

ARW stock opened at $119.13 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The firm has a market cap of $6.31 billion, a P/E ratio of 13.30 and a beta of 1.27. The company’s 50-day moving average price is $131.33 and its two-hundred day moving average price is $128.22.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the firm earned $4.14 EPS. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. On average, analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

About Arrow Electronics

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.