California Public Employees Retirement System Sells 6,470 Shares of Arrow Electronics, Inc. (NYSE:ARW)

California Public Employees Retirement System decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.2% in the fourth quarter, Holdings Channel reports. The firm owned 287,145 shares of the technology company’s stock after selling 6,470 shares during the quarter. California Public Employees Retirement System’s holdings in Arrow Electronics were worth $32,482,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new position in shares of Arrow Electronics during the 4th quarter worth approximately $31,000. Pictet Asset Management Holding SA lifted its holdings in shares of Arrow Electronics by 16.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,990 shares of the technology company’s stock valued at $904,000 after acquiring an additional 1,143 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Arrow Electronics during the fourth quarter valued at $47,000. Norges Bank bought a new stake in shares of Arrow Electronics in the 4th quarter worth about $11,741,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Arrow Electronics by 8.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,261 shares of the technology company’s stock worth $5,233,000 after purchasing an additional 3,515 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William F. Austen bought 1,900 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $104.12 per share, with a total value of $197,828.00. Following the completion of the purchase, the director now owns 7,858 shares of the company’s stock, valued at $818,174.96. This represents a 31.89 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Yun Sung Cho sold 353 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $112.11, for a total value of $39,574.83. Following the transaction, the chief accounting officer now owns 1,549 shares of the company’s stock, valued at $173,658.39. The trade was a 18.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $105.08 on Thursday. The business’s 50-day simple moving average is $109.09 and its 200 day simple moving average is $117.93. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 0.52 and a beta of 1.26. Arrow Electronics, Inc. has a 12-month low of $101.78 and a 12-month high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. As a group, research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share 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.