South Dakota Investment Council Purchases 2,700 Shares of Arrow Electronics, Inc. (NYSE:ARW)

South Dakota Investment Council raised its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,256 shares of the technology company’s stock after buying an additional 2,700 shares during the quarter. South Dakota Investment Council’s holdings in Arrow Electronics were worth $9,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Financial Group LLC bought a new stake in shares of Arrow Electronics during the 3rd quarter valued at about $25,000. IFP Advisors Inc increased its position in shares of Arrow Electronics by 33.0% in the third quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Arrow Electronics in the fourth quarter valued at approximately $58,000. HB Wealth Management LLC bought a new stake in Arrow Electronics during the third quarter valued at approximately $202,000. Finally, Riverwater Partners LLC grew its stake in Arrow Electronics by 18.1% in the 4th quarter. Riverwater Partners LLC now owns 1,946 shares of the technology company’s stock worth $238,000 after buying an additional 298 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the sale, the chief accounting officer now owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard John Marano sold 1,900 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the transaction, the insider now owns 12,108 shares in the company, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,134 shares of company stock valued at $488,795. 0.60% of the stock is currently owned by insiders.

Arrow Electronics Price Performance

Shares of ARW traded up $2.34 during midday trading on Wednesday, reaching $127.36. The stock had a trading volume of 149,745 shares, compared to its average volume of 529,206. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 8.09 and a beta of 1.41. The company’s 50-day moving average is $121.47 and its 200 day moving average is $119.04. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $147.42.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.72 by $0.26. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.84 billion. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The firm’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.69 EPS. On average, equities analysts predict that Arrow Electronics, Inc. will post 11.53 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Truist Financial decreased their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a report on Friday, February 9th.

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.