Vanguard Group Inc. boosted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 3.5% during the third quarter, HoldingsChannel reports. The fund owned 6,085,440 shares of the technology company’s stock after purchasing an additional 204,024 shares during the quarter. Vanguard Group Inc. owned about 0.12% of Arrow Electronics worth $736,338,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of ARW. ACR Alpine Capital Research LLC grew its stake in shares of Arrow Electronics by 2,391.7% in the second quarter. ACR Alpine Capital Research LLC now owns 2,156,373 shares of the technology company’s stock worth $274,787,000 after purchasing an additional 2,069,832 shares during the last quarter. AQR Capital Management LLC lifted its holdings 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 buying an additional 1,311,972 shares during the period. Boston Partners lifted its holdings in Arrow Electronics by 12.5% during the 2nd quarter. Boston Partners now owns 2,739,427 shares of the technology company’s stock worth $348,518,000 after buying an additional 305,182 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Arrow Electronics by 197.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 458,036 shares of the technology company’s stock valued at $55,422,000 after buying an additional 303,942 shares during the last quarter. Finally, Ieq Capital LLC increased its stake in shares of Arrow Electronics by 609.5% in the second quarter. Ieq Capital LLC now owns 123,775 shares of the technology company’s stock valued at $15,773,000 after buying an additional 106,330 shares during the period. Institutional investors own 99.34% of the company’s stock.
Arrow Electronics Stock Up 1.6%
Arrow Electronics stock opened at $159.57 on Tuesday. The company has a market capitalization of $8.15 billion, a PE ratio of 14.59, a PEG ratio of 0.79 and a beta of 1.04. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $161.03. The firm’s fifty day moving average is $127.28 and its 200 day moving average is $121.41. The company has a quick ratio of 1.09, a current ratio of 1.36 and a debt-to-equity ratio of 0.46.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Zacks Research upgraded Arrow Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Wells Fargo & Company upped their price objective on shares of Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a research note on Friday, February 6th. Truist Financial lifted their target price on shares of Arrow Electronics from $120.00 to $148.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.33.
Get Our Latest Stock Report on ARW
Insider Transactions at Arrow Electronics
In other news, insider Richard John Marano sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $155.32, for a total transaction of $388,300.00. Following the completion of the sale, the insider owned 24,096 shares in the company, valued at $3,742,590.72. The trade was a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William F. Austen bought 3,960 shares of the stock in a transaction dated Thursday, February 19th. The shares were purchased at an average cost of $151.87 per share, for a total transaction of $601,405.20. Following the completion of the transaction, the chief executive officer directly owned 44,722 shares of the company’s stock, valued at $6,791,930.14. This trade represents a 9.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 19,199 shares of company stock worth $3,009,786. 0.80% of the stock is currently owned by insiders.
Arrow Electronics Company 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.
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