Teachers Retirement System of The State of Kentucky decreased its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,380 shares of the technology company’s stock after selling 1,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Arrow Electronics were worth $1,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ARW. Legal & General Group Plc grew its stake in shares of Arrow Electronics by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 544,809 shares of the technology company’s stock valued at $42,725,000 after buying an additional 26,591 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Arrow Electronics by 14.8% in the 2nd quarter. Pacer Advisors Inc. now owns 12,812 shares of the technology company’s stock valued at $1,005,000 after buying an additional 1,650 shares in the last quarter. Morgan Stanley grew its stake in shares of Arrow Electronics by 97.5% in the 1st quarter. Morgan Stanley now owns 441,079 shares of the technology company’s stock valued at $32,380,000 after buying an additional 217,695 shares in the last quarter. Bank of Nova Scotia bought a new stake in shares of Arrow Electronics in the 1st quarter valued at approximately $2,423,000. Finally, Principal Financial Group Inc. grew its stake in shares of Arrow Electronics by 38.0% in the 2nd quarter. Principal Financial Group Inc. now owns 504,821 shares of the technology company’s stock valued at $39,589,000 after buying an additional 139,019 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was published by Watch List News and is the property of of Watch List News. If you are accessing this article on another site, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.watchlistnews.com/teachers-retirement-system-of-the-state-of-kentucky-reduces-stake-in-arrow-electronics-inc-arw/1614963.html.

Several equities research analysts recently commented on the company. BidaskClub cut Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Tuesday. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $81.00 price target (up previously from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.60.

Shares of Arrow Electronics, Inc. (NYSE:ARW) opened at 82.16 on Friday. The company has a market cap of $7.25 billion, a PE ratio of 15.02 and a beta of 1.15. Arrow Electronics, Inc. has a 52 week low of $58.51 and a 52 week high of $84.53. The company has a 50 day moving average price of $78.82 and a 200 day moving average price of $76.79.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The business had revenue of $6.47 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the firm earned $1.65 EPS. Arrow Electronics’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Arrow Electronics, Inc. will post $7.32 earnings per share for the current year.

In related news, Chairman Michael J. Long sold 20,910 shares of Arrow Electronics stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $76.01, for a total value of $1,589,369.10. Following the sale, the chairman now owns 346,486 shares of the company’s stock, valued at approximately $26,336,400.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sean J. Kerins sold 4,477 shares of Arrow Electronics stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $77.16, for a total value of $345,445.32. Following the completion of the sale, the insider now directly owns 26,213 shares in the company, valued at approximately $2,022,595.08. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

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. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.

Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARW).

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

Receive News & Ratings for Arrow Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.