Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,319 shares of the technology company’s stock after selling 900 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Arrow Electronics were worth $1,271,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in Arrow Electronics by 303.3% during the second quarter. Rockefeller Capital Management L.P. now owns 246 shares of the technology company’s stock worth $27,000 after purchasing an additional 185 shares during the period. Koshinski Asset Management Inc. acquired a new stake in shares of Arrow Electronics during the third quarter worth $31,000. Advisory Services Network LLC acquired a new stake in shares of Arrow Electronics during the second quarter worth $49,000. Van ECK Associates Corp lifted its holdings in shares of Arrow Electronics by 137.7% during the second quarter. Van ECK Associates Corp now owns 435 shares of the technology company’s stock worth $50,000 after buying an additional 252 shares in the last quarter. Finally, Parisi Gray Wealth Management acquired a new stake in shares of Arrow Electronics during the second quarter worth $99,000. 94.38% of the stock is owned by hedge funds and other institutional investors.
In other Arrow Electronics news, insider Vincent P. Melvin sold 8,748 shares of the firm’s stock in a transaction dated Monday, November 29th. The stock was sold at an average price of $124.25, for a total value of $1,086,939.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Kostalnick II sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $122.45, for a total value of $367,350.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Shares of ARW stock opened at $134.96 on Friday. The stock has a market capitalization of $9.40 billion, a PE ratio of 10.36, a PEG ratio of 0.31 and a beta of 1.48. Arrow Electronics, Inc. has a one year low of $96.40 and a one year high of $137.95. The business’s 50 day simple moving average is $127.97 and its 200 day simple moving average is $120.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.44 and a quick ratio of 1.04.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, November 4th. The technology company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.50. The business had revenue of $8.51 billion during the quarter, compared to analyst estimates of $8.59 billion. Arrow Electronics had a return on equity of 19.22% and a net margin of 2.87%. Arrow Electronics’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 EPS. As a group, research analysts expect that Arrow Electronics, Inc. will post 14.6 earnings per share for the current year.
Arrow Electronics announced that its board has authorized a stock repurchase plan on Friday, December 17th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.
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