Algert Global LLC grew its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 1,182.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,660 shares of the technology company’s stock after buying an additional 131,540 shares during the quarter. Algert Global LLC owned 0.28% of Arrow Electronics worth $17,262,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Creative Planning increased its stake in shares of Arrow Electronics by 67.5% during the third quarter. Creative Planning now owns 25,265 shares of the technology company’s stock worth $3,057,000 after acquiring an additional 10,185 shares during the period. Lazard Asset Management LLC lifted its position in Arrow Electronics by 136.5% in the third quarter. Lazard Asset Management LLC now owns 28,412 shares of the technology company’s stock valued at $3,438,000 after purchasing an additional 16,396 shares during the period. AQR Capital Management LLC lifted its position in Arrow Electronics by 37.7% in the third quarter. AQR Capital Management LLC now owns 3,185,582 shares of the technology company’s stock valued at $384,818,000 after purchasing an additional 871,585 shares during the period. Amundi purchased a new stake in Arrow Electronics in the 3rd quarter valued at approximately $13,852,000. Finally, Man Group plc boosted its holdings in Arrow Electronics by 1.8% in the 3rd quarter. Man Group plc now owns 21,720 shares of the technology company’s stock valued at $2,628,000 after purchasing an additional 388 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.
Arrow Electronics Stock Down 0.1%
ARW opened at $140.42 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.36. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.70 and a beta of 1.01. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $162.61. The business’s fifty day moving average is $136.64 and its two-hundred day moving average is $123.47.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on ARW shares. Truist Financial increased 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. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Zacks Research upgraded shares of Arrow Electronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings raised shares of Arrow Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, Wells Fargo & Company increased their price target on shares of Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.33.
Read Our Latest Stock Report on Arrow Electronics
Insider Buying and Selling at Arrow Electronics
In other Arrow Electronics news, 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 transaction of $388,300.00. Following the completion of the transaction, the insider owned 24,096 shares in the company, valued at approximately $3,742,590.72. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carine Lamercie Jean-Claude sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $156.65, for a total transaction of $626,600.00. Following the completion of the sale, the senior vice president directly owned 16,261 shares in the company, valued at $2,547,285.65. This trade represents a 19.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,199 shares of company stock valued at $3,009,786. Insiders own 1.00% of the company’s stock.
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.
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