Quantbot Technologies LP bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) in the first quarter, HoldingsChannel reports. The firm bought 15,301 shares of the technology company’s stock, valued at approximately $1,589,000.
Other hedge funds have also recently bought and sold shares of the company. Operose Advisors LLC acquired a new position in shares of Arrow Electronics in the first quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its position in Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Covestor Ltd boosted its stake in Arrow Electronics by 14.9% in the 1st quarter. Covestor Ltd now owns 1,118 shares of the technology company’s stock worth $116,000 after purchasing an additional 145 shares during the period. Exchange Traded Concepts LLC bought a new position in Arrow Electronics during the 1st quarter worth about $120,000. Finally, Lindbrook Capital LLC increased its holdings in Arrow Electronics by 300.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company’s stock worth $161,000 after purchasing an additional 1,163 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.
Arrow Electronics Stock Performance
NYSE ARW opened at $129.9480 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average price is $126.56 and its two-hundred day moving average price is $115.86. Arrow Electronics, Inc. has a 1 year low of $86.50 and a 1 year high of $137.80. The firm has a market capitalization of $6.69 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10.
Insider Transactions at Arrow Electronics
In related news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the transaction, the senior vice president directly owned 17,057 shares of the company’s stock, valued at approximately $2,125,984.48. This trade represents a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean J. Kerins bought 8,630 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $114.91 per share, for a total transaction of $991,673.30. Following the completion of the acquisition, the chief executive officer owned 122,408 shares in the company, valued at approximately $14,065,903.28. This trade represents a 7.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research analysts have recently weighed in on ARW shares. Wall Street Zen raised Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Bank of America lifted their target price on Arrow Electronics from $105.00 to $110.00 and gave the company an “underperform” rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $115.75.
Read Our Latest Report on Arrow Electronics
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.
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