SummerHaven Investment Management LLC lifted its position in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,712 shares of the technology company’s stock after acquiring an additional 135 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Arrow Electronics were worth $855,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of Arrow Electronics by 84.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company’s stock worth $28,000 after buying an additional 101 shares during the last quarter. Operose Advisors LLC purchased a new position in shares of Arrow Electronics in the 1st quarter worth about $31,000. Geneos Wealth Management Inc. boosted its holdings in shares of Arrow Electronics by 68.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 353 shares of the technology company’s stock worth $37,000 after buying an additional 143 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Arrow Electronics by 321.7% in the 1st quarter. Quarry LP now owns 388 shares of the technology company’s stock worth $40,000 after buying an additional 296 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics Price Performance
NYSE ARW opened at $120.98 on Monday. The company has a market cap of $6.23 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $124.59 and its two-hundred day simple moving average is $118.89.
Insider Transactions at Arrow Electronics
In other news, CEO Sean J. Kerins purchased 8,630 shares of the business’s stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $114.91 per share, with a total value of $991,673.30. Following the acquisition, the chief executive officer directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
ARW has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Arrow Electronics from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Bank of America boosted their price target on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Monday, June 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $115.75.
View Our Latest Stock 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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