Teachers Retirement System of The State of Kentucky Sells 470 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Teachers Retirement System of The State of Kentucky lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,073 shares of the technology company’s stock after selling 470 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Arrow Electronics were worth $2,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARW. True Wealth Design LLC purchased a new stake in Arrow Electronics in the 3rd quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in shares of Arrow Electronics in the third quarter valued at approximately $40,000. Capital Performance Advisors LLP bought a new position in Arrow Electronics in the third quarter worth approximately $73,000. DekaBank Deutsche Girozentrale purchased a new position in Arrow Electronics during the 3rd quarter worth $78,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Arrow Electronics during the 3rd quarter valued at $88,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $120.30 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.33 billion, a PE ratio of 13.43 and a beta of 1.26. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The business’s fifty day simple moving average is $124.58 and its 200-day simple moving average is $126.38.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the business posted $4.14 earnings per share. The firm’s revenue was down 14.8% compared to the same quarter last year. Analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARW has been the topic of a number of recent research reports. Truist Financial cut their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Raymond James reduced their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st.

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.