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

South Dakota Investment Council boosted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,256 shares of the technology company’s stock after purchasing an additional 2,700 shares during the quarter. South Dakota Investment Council owned about 0.14% of Arrow Electronics worth $9,445,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Legacy Financial Group LLC bought a new stake in shares of Arrow Electronics in the 3rd quarter valued at $25,000. IFP Advisors Inc grew its position in shares of Arrow Electronics by 33.0% in the 3rd quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC bought a new stake in Arrow Electronics during the 4th quarter worth approximately $58,000. HB Wealth Management LLC bought a new stake in Arrow Electronics during the 3rd quarter worth approximately $202,000. Finally, Riverwater Partners LLC raised its holdings in Arrow Electronics by 18.1% during 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 during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Up 1.9 %

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

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

Insider Buying and Selling

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the transaction, the senior vice president now directly owns 15,271 shares in the company, valued at $1,847,791. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the transaction, the senior vice president now owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,134 shares of company stock worth $488,795. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial reduced their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research note 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.