California Public Employees Retirement System Sells 4,510 Shares of Arrow Electronics, Inc. (NYSE:ARW)

California Public Employees Retirement System lessened its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 349,051 shares of the technology company’s stock after selling 4,510 shares during the period. California Public Employees Retirement System’s holdings in Arrow Electronics were worth $42,671,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Foster & Motley Inc. raised its stake in shares of Arrow Electronics by 3.3% during the 4th quarter. Foster & Motley Inc. now owns 8,552 shares of the technology company’s stock worth $1,045,000 after acquiring an additional 271 shares in the last quarter. Duality Advisers LP bought a new position in shares of Arrow Electronics during the 4th quarter worth approximately $4,157,000. Hussman Strategic Advisors Inc. raised its stake in shares of Arrow Electronics by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 25,200 shares of the technology company’s stock worth $3,081,000 after acquiring an additional 12,600 shares in the last quarter. abrdn plc raised its stake in shares of Arrow Electronics by 91.7% during the 4th quarter. abrdn plc now owns 18,905 shares of the technology company’s stock worth $2,311,000 after acquiring an additional 9,044 shares in the last quarter. Finally, River Road Asset Management LLC bought a new position in shares of Arrow Electronics during the 4th quarter worth approximately $18,232,000. Institutional investors own 99.34% of the company’s stock.

Insider Activity

In other news, insider Richard John Marano sold 1,900 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total value of $221,274.00. Following the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Richard John Marano sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Yun Sung Cho sold 739 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The disclosure for this sale can be found here. Insiders have sold 4,134 shares of company stock valued at $488,795 in the last ninety days. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note on Friday, February 9th.

Arrow Electronics Trading Up 0.7 %

Shares of Arrow Electronics stock opened at $128.68 on Friday. The firm’s 50 day simple moving average is $122.37 and its two-hundred day simple moving average is $119.20. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 8.14 and a beta of 1.41. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $147.42.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.72 by $0.26. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.84 billion. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.69 EPS. Analysts predict that Arrow Electronics, Inc. will post 11.53 EPS for the current 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.