Intech Investment Management LLC acquired a new position in Arrow Electronics, Inc. (NYSE:ARW – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,221 shares of the technology company’s stock, valued at approximately $632,000.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Arrow Electronics by 3.5% during the third quarter. Vanguard Group Inc. now owns 6,085,440 shares of the technology company’s stock worth $736,338,000 after acquiring an additional 204,024 shares during the last quarter. Boston Partners raised its position in shares of Arrow Electronics by 12.5% in the 2nd quarter. Boston Partners now owns 2,739,427 shares of the technology company’s stock valued at $348,518,000 after purchasing an additional 305,182 shares during the last quarter. ACR Alpine Capital Research LLC boosted its stake in Arrow Electronics by 12.1% in the 3rd quarter. ACR Alpine Capital Research LLC now owns 2,416,815 shares of the technology company’s stock worth $292,435,000 after purchasing an additional 260,442 shares in the last quarter. AQR Capital Management LLC grew its position in Arrow Electronics by 130.9% during the 2nd quarter. AQR Capital Management LLC now owns 2,313,997 shares of the technology company’s stock worth $294,873,000 after purchasing an additional 1,311,972 shares during the last quarter. Finally, Sei Investments Co. grew its position in Arrow Electronics by 0.8% during the 2nd quarter. Sei Investments Co. now owns 781,313 shares of the technology company’s stock worth $99,558,000 after purchasing an additional 6,379 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.
Arrow Electronics Stock Up 0.1%
NYSE:ARW opened at $140.01 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 1.09. The company’s fifty day moving average price is $134.85 and its 200-day moving average price is $123.17. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $162.61. The firm has a market capitalization of $7.15 billion, a P/E ratio of 12.80, a PEG ratio of 0.70 and a beta of 1.01.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on ARW. Weiss Ratings raised shares of Arrow Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Wells Fargo & Company upped their target price on Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a research report on Friday, February 6th. Truist Financial raised their target price on Arrow Electronics from $120.00 to $148.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Zacks Research raised Arrow Electronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised Arrow Electronics from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and an average target price of $124.33.
Read Our Latest Research Report on ARW
Insider Buying and Selling
In other news, insider Richard John Marano sold 2,500 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $155.32, for a total transaction of $388,300.00. Following the completion of the transaction, the insider directly owned 24,096 shares of the company’s stock, valued at $3,742,590.72. The trade was a 9.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Nowak sold 12,699 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $157.09, for a total transaction of $1,994,885.91. Following the completion of the transaction, the insider owned 43,509 shares of the company’s stock, valued at approximately $6,834,828.81. This represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 19,199 shares of company stock valued at $3,009,786. Insiders own 0.80% of the company’s stock.
About Arrow Electronics
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.
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