Optimize Financial Inc Acquires New Stake in Arrow Electronics, Inc. $ARW

Optimize Financial Inc acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,842 shares of the technology company’s stock, valued at approximately $1,312,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARW. Savant Capital LLC grew its holdings in shares of Arrow Electronics by 2.2% during the third quarter. Savant Capital LLC now owns 15,915 shares of the technology company’s stock worth $1,926,000 after buying an additional 340 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Arrow Electronics by 102.5% during the third quarter. Hantz Financial Services Inc. now owns 567 shares of the technology company’s stock worth $69,000 after acquiring an additional 287 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Arrow Electronics by 197.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 458,036 shares of the technology company’s stock worth $55,422,000 after acquiring an additional 303,942 shares during the period. Allianz Asset Management GmbH raised its holdings in Arrow Electronics by 16.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 378,993 shares of the technology company’s stock valued at $45,858,000 after acquiring an additional 54,807 shares during the last quarter. Finally, AGF Management Ltd. lifted its stake in shares of Arrow Electronics by 1.5% during the 3rd quarter. AGF Management Ltd. now owns 25,690 shares of the technology company’s stock worth $3,108,000 after purchasing an additional 390 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

NYSE ARW opened at $135.21 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.14. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $136.34. The firm has a market capitalization of $6.96 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.05 and a beta of 1.04. The business’s 50-day simple moving average is $115.42 and its 200-day simple moving average is $118.46.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ARW shares. Zacks Research downgraded Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Wall Street Zen lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Arrow Electronics in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their target price on shares of Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating on the stock in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Arrow Electronics presently has an average rating of “Reduce” and an average price target of $102.00.

Arrow Electronics Profile

Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.

In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.