SummerHaven Investment Management LLC boosted its holdings in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Arrow Electronics by 84.2% in the second quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company’s stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. Operose Advisors LLC purchased a new stake in Arrow Electronics in the first quarter valued at approximately $31,000. Geneos Wealth Management Inc. raised its stake in Arrow Electronics by 68.1% in the first quarter. Geneos Wealth Management Inc. now owns 353 shares of the technology company’s stock valued at $37,000 after purchasing an additional 143 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Arrow Electronics by 111.7% in the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Finally, Quarry LP raised its stake in Arrow Electronics by 321.7% in the first quarter. Quarry LP now owns 388 shares of the technology company’s stock valued at $40,000 after purchasing an additional 296 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.
Arrow Electronics Trading Up 1.8%
Shares of ARW opened at $120.98 on Monday. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.39. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The firm has a 50 day moving average price of $124.59 and a 200-day moving average price of $118.89.
Insider Activity
In other news, CEO Sean J. Kerins bought 8,630 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $14,065,903.28. This trade represents a 7.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.
Wall Street Analysts Forecast Growth
ARW has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Bank of America raised their target price on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an “underperform” rating in a research note 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $115.75.
View Our Latest Stock Analysis on ARW
Arrow Electronics 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.
Featured Articles
- Five stocks we like better than Arrow Electronics
- What Are Dividend Achievers? An Introduction
- SoundHound Breaks Critical Resistance: How High Can It Get Now?
- What Are the FAANG Stocks and Are They Good Investments?
- Klarna IPO: BNPL Stock or Something Bigger?
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Why Teradyne Is a Core Play in the AI Hardware Boom
Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARW – Free Report).
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.