AlphaQuest LLC Purchases New Position in Arrow Electronics, Inc. $ARW

AlphaQuest LLC acquired a new position in Arrow Electronics, Inc. (NYSE:ARW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,214 shares of the technology company’s stock, valued at approximately $631,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Arrow Electronics by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 15,350 shares of the technology company’s stock worth $1,857,000 after acquiring an additional 213 shares in the last quarter. New York State Common Retirement Fund grew its stake in Arrow Electronics by 3.0% in the third quarter. New York State Common Retirement Fund now owns 128,911 shares of the technology company’s stock worth $15,598,000 after purchasing an additional 3,700 shares during the period. Truist Financial Corp raised its holdings in Arrow Electronics by 1.9% in the third quarter. Truist Financial Corp now owns 5,410 shares of the technology company’s stock worth $655,000 after purchasing an additional 103 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Arrow Electronics during the third quarter valued at $203,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Arrow Electronics by 37.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 64,462 shares of the technology company’s stock valued at $7,800,000 after buying an additional 17,730 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Price Performance

Shares of ARW opened at $137.98 on Thursday. The company has a market capitalization of $7.11 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04. The company has a quick ratio of 1.14, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $116.02 and a 200 day moving average of $118.60. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $139.71.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wells Fargo & Company lowered their target price on shares of Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Arrow Electronics in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $102.00.

About Arrow Electronics

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.