Chicago Partners Investment Group LLC purchased a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 2,006 shares of the technology company’s stock, valued at approximately $261,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ARW. GAMMA Investing LLC increased its position in shares of Arrow Electronics by 201.3% during the 1st quarter. GAMMA Investing LLC now owns 2,597 shares of the technology company’s stock valued at $270,000 after purchasing an additional 1,735 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Arrow Electronics by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,864 shares of the technology company’s stock valued at $1,232,000 after purchasing an additional 2,982 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Arrow Electronics by 2.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,887 shares of the technology company’s stock valued at $507,000 after acquiring an additional 121 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Arrow Electronics by 111.7% during 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 during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Arrow Electronics by 14.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 50,015 shares of the technology company’s stock valued at $5,193,000 after acquiring an additional 6,459 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Arrow Electronics Trading Down 0.9%
ARW stock opened at $120.00 on Friday. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $137.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.07. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.57 and a beta of 1.09. The business has a 50 day simple moving average of $123.02 and a two-hundred day simple moving average of $121.02.
Analyst Upgrades and Downgrades
ARW has been the subject of a number of recent research reports. Zacks Research upgraded Arrow Electronics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Arrow Electronics in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Arrow Electronics has an average rating of “Hold” and an average price target of $115.75.
Get Our Latest Research Report on Arrow Electronics
Insiders Place Their Bets
In other Arrow Electronics news, CEO Sean J. Kerins purchased 8,630 shares of the company’s stock in a transaction on Friday, August 1st. The stock was acquired at an average cost of $114.91 per share, for a total transaction of $991,673.30. Following the purchase, the chief executive officer directly owned 122,408 shares of the company’s stock, valued at $14,065,903.28. This trade represents a 7.58% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.
About Arrow Electronics
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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