Retirement Systems of Alabama Has $7.93 Million Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Retirement Systems of Alabama lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 65,698 shares of the technology company’s stock after selling 1,875 shares during the period. Retirement Systems of Alabama’s holdings in Arrow Electronics were worth $7,934,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Greenhaven Associates Inc. raised its position in Arrow Electronics by 1.7% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock worth $227,377,000 after purchasing an additional 32,052 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Arrow Electronics by 7.4% in the first quarter. Earnest Partners LLC now owns 1,374,525 shares of the technology company’s stock valued at $177,946,000 after buying an additional 95,285 shares during the period. Lyrical Asset Management LP raised its position in shares of Arrow Electronics by 0.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,095,749 shares of the technology company’s stock worth $133,955,000 after acquiring an additional 4,273 shares during the last quarter. Boston Partners lifted its stake in shares of Arrow Electronics by 108.5% in the first quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock worth $129,622,000 after acquiring an additional 521,117 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Arrow Electronics by 82.9% in the first quarter. Assenagon Asset Management S.A. now owns 985,373 shares of the technology company’s stock valued at $127,566,000 after acquiring an additional 446,647 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Up 2.0 %

Shares of NYSE ARW opened at $133.18 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market cap of $7.09 billion, a PE ratio of 10.47 and a beta of 1.27. The company’s fifty day simple moving average is $124.45 and its 200 day simple moving average is $124.44. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $135.31.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.62. The firm had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.37 earnings per share. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARW. The Goldman Sachs Group raised their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Raymond James upped their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Truist Financial upped their target price on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Profile

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.