California Public Employees Retirement System Sells 17,048 Shares of Arrow Electronics, Inc. (ARW)

California Public Employees Retirement System trimmed its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 6.3% in the 1st quarter, Holdings Channel reports. The firm owned 252,190 shares of the technology company’s stock after selling 17,048 shares during the period. California Public Employees Retirement System’s holdings in Arrow Electronics were worth $19,434,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Regentatlantic Capital LLC raised its holdings in Arrow Electronics by 11.9% in the 1st quarter. Regentatlantic Capital LLC now owns 100,484 shares of the technology company’s stock worth $7,743,000 after acquiring an additional 10,669 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Arrow Electronics by 2.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 11,095 shares of the technology company’s stock worth $855,000 after purchasing an additional 310 shares during the period. Texas Permanent School Fund grew its position in Arrow Electronics by 1.1% in the 1st quarter. Texas Permanent School Fund now owns 57,657 shares of the technology company’s stock worth $4,443,000 after purchasing an additional 613 shares during the period. Janus Henderson Group PLC grew its position in Arrow Electronics by 3.0% in the 1st quarter. Janus Henderson Group PLC now owns 26,233 shares of the technology company’s stock worth $2,022,000 after purchasing an additional 755 shares during the period. Finally, First Republic Investment Management Inc. grew its position in Arrow Electronics by 127.8% in the 1st quarter. First Republic Investment Management Inc. now owns 55,060 shares of the technology company’s stock worth $4,243,000 after purchasing an additional 30,888 shares during the period. Hedge funds and other institutional investors own 94.11% of the company’s stock.

In other news, insider Sean J. Kerins sold 5,286 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $81.64, for a total transaction of $431,549.04. Following the completion of the sale, the insider now owns 35,955 shares of the company’s stock, valued at approximately $2,935,366.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charles Kostalnick II sold 1,250 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $81.99, for a total transaction of $102,487.50. Following the sale, the insider now directly owns 15,248 shares of the company’s stock, valued at approximately $1,250,183.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,351 shares of company stock valued at $8,322,837. Insiders own 1.40% of the company’s stock.

NYSE:ARW opened at $66.45 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. Arrow Electronics, Inc. has a 12 month low of $62.69 and a 12 month high of $86.62. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 7.56, a P/E/G ratio of 2.92 and a beta of 1.16.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The company had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period last year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Arrow Electronics, Inc. will post 8.49 earnings per share for the current year.

A number of equities research analysts have commented on the stock. Bank of America downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 target price for the company. in a research report on Monday, May 6th. Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. ValuEngine downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Stifel Nicolaus downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 target price for the company. in a research report on Friday, February 1st. Finally, SunTrust Banks lifted their target price on shares of Arrow Electronics to $84.00 and gave the stock a “hold” rating in a research report on Friday, February 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Arrow Electronics currently has an average rating of “Hold” and an average target price of $83.21.

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Arrow Electronics Profile

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.

Further Reading: Calculate Your Return on Investment (ROI)

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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