Earnest Partners LLC grew its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 0.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,479,482 shares of the technology company’s stock after acquiring an additional 5,068 shares during the quarter. Earnest Partners LLC owned about 2.87% of Arrow Electronics worth $179,017,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in 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 buying an additional 204,024 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Arrow Electronics by 37.7% in the 3rd quarter. AQR Capital Management LLC now owns 3,185,582 shares of the technology company’s stock valued at $384,818,000 after buying an additional 871,585 shares in the last quarter. Boston Partners lifted its holdings in shares of 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 acquiring an additional 305,182 shares during the period. ACR Alpine Capital Research LLC boosted its position in shares of Arrow Electronics by 12.1% during 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 acquiring an additional 260,442 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Arrow Electronics by 4.3% during the 3rd quarter. Sei Investments Co. now owns 814,794 shares of the technology company’s stock worth $98,591,000 after acquiring an additional 33,481 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.
Arrow Electronics Price Performance
ARW stock opened at $140.42 on Friday. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 0.70 and a beta of 1.01. 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 has a 50 day simple moving average of $136.64 and a 200 day simple moving average of $123.47. Arrow Electronics, Inc. has a 1 year low of $86.50 and a 1 year high of $162.61.
Insider Transactions at Arrow Electronics
In other Arrow Electronics news, insider Eric Nowak sold 12,699 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $157.09, for a total value of $1,994,885.91. Following the completion of the transaction, the insider directly owned 43,509 shares in the company, valued at approximately $6,834,828.81. This trade represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard John Marano sold 2,500 shares of Arrow Electronics stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $155.32, for a total value of $388,300.00. Following the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 19,199 shares of company stock worth $3,009,786. Insiders own 1.00% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Zacks Research upgraded shares of Arrow Electronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Wells Fargo & Company raised their target price on Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a report on Friday, February 6th. Weiss Ratings upgraded Arrow Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Truist Financial raised their price objective on Arrow Electronics from $120.00 to $148.00 and gave the company a “hold” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $124.33.
Check Out Our Latest Stock Report on Arrow Electronics
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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