State of Alaska Department of Revenue Lowers Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

State of Alaska Department of Revenue trimmed its stake in Arrow Electronics, Inc. (NYSE:ARW) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,562 shares of the technology company’s stock after selling 150 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Arrow Electronics worth $3,117,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its position in Arrow Electronics by 71.9% in the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after purchasing an additional 876,396 shares during the period. FMR LLC grew its stake in shares of Arrow Electronics by 371.1% in the third quarter. FMR LLC now owns 434,905 shares of the technology company’s stock valued at $57,768,000 after buying an additional 342,590 shares in the last quarter. Lind Value II ApS raised its holdings in shares of Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after buying an additional 172,669 shares during the period. JPMorgan Chase & Co. lifted its stake in Arrow Electronics by 115.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after acquiring an additional 168,904 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Arrow Electronics by 220.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock valued at $19,859,000 after acquiring an additional 102,854 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ARW shares. Truist Financial cut their price target on shares of 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 target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday. Finally, Wells Fargo & Company cut their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Arrow Electronics has a consensus rating of “Hold” and an average target price of $121.25.

Arrow Electronics Stock Down 2.3 %

ARW stock opened at $107.15 on Monday. Arrow Electronics, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $137.80. The company’s 50 day moving average price is $116.05 and its 200 day moving average price is $123.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.46. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 14.72 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, equities research analysts anticipate that Arrow Electronics, Inc. will post 12.81 EPS for the current fiscal year.

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.