New York State Teachers Retirement System decreased its stake in Arrow Electronics, Inc. (NYSE:ARW) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,812 shares of the technology company’s stock after selling 10,306 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of Arrow Electronics worth $8,539,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Man Group plc bought a new stake in shares of Arrow Electronics in the third quarter worth $293,000. Morgan Stanley lifted its position in shares of Arrow Electronics by 13.0% in the third quarter. Morgan Stanley now owns 261,153 shares of the technology company’s stock worth $19,254,000 after purchasing an additional 29,974 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Arrow Electronics by 0.9% in the third quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock worth $585,153,000 after purchasing an additional 70,647 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Arrow Electronics by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 9,239 shares of the technology company’s stock worth $637,000 after purchasing an additional 179 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in shares of Arrow Electronics by 8.5% in the fourth quarter. IFM Investors Pty Ltd now owns 5,061 shares of the technology company’s stock worth $349,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds own 93.08% of the company’s stock.
Shares of Arrow Electronics stock traded down $2.06 during trading on Friday, reaching $67.10. The company’s stock had a trading volume of 467,200 shares, compared to its average volume of 568,027. The stock has a market cap of $5.80 billion, a PE ratio of 7.60, a PEG ratio of 3.00 and a beta of 1.35. Arrow Electronics, Inc. has a 52 week low of $62.35 and a 52 week high of $86.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.74.
ARW has been the topic of a number of research reports. Zacks Investment Research lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. ValuEngine downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Deutsche Bank started coverage on shares of Arrow Electronics in a report on Tuesday. They set a “buy” rating and a $83.00 target price on the stock. Finally, Bank of America downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 target price on the stock. in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Arrow Electronics presently has a consensus rating of “Hold” and an average price target of $81.07.
About Arrow Electronics
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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