State of Michigan Retirement System Lowers Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

State of Michigan Retirement System cut its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,475 shares of the technology company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Arrow Electronics were worth $1,411,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ARW. True Wealth Design LLC purchased a new stake in shares of Arrow Electronics during the third quarter worth approximately $31,000. Brooklyn Investment Group acquired a new position in Arrow Electronics in the 3rd quarter valued at $40,000. Principal Securities Inc. raised its position in Arrow Electronics by 35.7% during the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after buying an additional 126 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Arrow Electronics by 24.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock worth $64,000 after acquiring an additional 112 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Arrow Electronics by 26.5% in the fourth quarter. IFP Advisors Inc now owns 630 shares of the technology company’s stock valued at $71,000 after acquiring an additional 132 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Stock Up 3.3 %

ARW stock opened at $109.35 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $112.14 and its 200 day moving average price is $121.06. Arrow Electronics, Inc. has a 52 week low of $103.40 and a 52 week high of $137.80. The company has a market cap of $5.70 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. On average, research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, CAO Yun Sung Cho sold 353 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $112.11, for a total value of $39,574.83. Following the sale, the chief accounting officer now owns 1,549 shares of the company’s stock, valued at $173,658.39. This represents a 18.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics Company 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.