Amundi reduced its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 37.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,271 shares of the technology company’s stock after selling 78,702 shares during the period. Amundi’s holdings in Arrow Electronics were worth $28,015,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Arrow Electronics by 20,912.3% during the second quarter. California State Teachers Retirement System now owns 12,621,067 shares of the technology company’s stock worth $2,693,462,000 after acquiring an additional 12,561,002 shares in the last quarter. BlackRock Inc. acquired a new stake in Arrow Electronics during the second quarter valued at $1,070,534,000. Bank of America Corp DE purchased a new position in Arrow Electronics in the second quarter valued at about $270,981,000. ACR Alpine Capital Research LLC grew its stake in Arrow Electronics by 42.6% in the fourth quarter. ACR Alpine Capital Research LLC now owns 3,445,593 shares of the technology company’s stock valued at $379,635,000 after purchasing an additional 1,028,778 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Arrow Electronics by 37.7% in the 3rd quarter. AQR Capital Management LLC now owns 3,185,582 shares of the technology company’s stock worth $384,818,000 after purchasing an additional 871,585 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.
Arrow Electronics Price Performance
Shares of NYSE:ARW opened at $228.47 on Friday. Arrow Electronics, Inc. has a fifty-two week low of $101.79 and a fifty-two week high of $237.33. The business has a 50-day moving average of $210.23 and a two-hundred day moving average of $193.08. The stock has a market capitalization of $11.63 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.31 and a beta of 1.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.22 and a quick ratio of 1.01.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on ARW shares. Raymond James Financial reaffirmed an “outperform” rating and set a $250.00 price target on shares of Arrow Electronics in a research note on Friday, August 7th. Wall Street Zen upgraded Arrow Electronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Truist Financial dropped their price objective on Arrow Electronics from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Wells Fargo & Company raised their price objective on shares of Arrow Electronics from $175.00 to $200.00 and gave the company an “underweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Arrow Electronics in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.25.
Insider Transactions at Arrow Electronics
In other Arrow Electronics news, SVP Carine Jean-Claude sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $209.85, for a total transaction of $209,850.00. Following the completion of the sale, the senior vice president owned 11,626 shares of the company’s stock, valued at $2,439,716.10. This represents a 7.92% decrease in their ownership of the stock. The sale 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 insiders.
Arrow Electronics Company Profile
Arrow Electronics, Inc is a global technology distributor that connects electronic component manufacturers with original equipment manufacturers, contract manufacturers and other commercial customers. The company supplies semiconductors, passive components, electromechanical products and related embedded technologies used in products across industries such as communications, industrial, automotive, aerospace and defense, and consumer electronics.
Through its enterprise computing solutions business, Arrow also provides information-technology products and services, including data-center and cloud solutions, software, security, storage, networking and professional services.
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