MQS Management LLC acquired a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,642 shares of the technology company’s stock, valued at approximately $522,000.
Other large investors have also bought and sold shares of the company. Krilogy Financial LLC increased its position in shares of Arrow Electronics by 3.2% during the first quarter. Krilogy Financial LLC now owns 2,543 shares of the technology company’s stock valued at $365,000 after acquiring an additional 80 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in Arrow Electronics by 3.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 2,276 shares of the technology company’s stock valued at $251,000 after purchasing an additional 84 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Arrow Electronics by 25.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 442 shares of the technology company’s stock worth $56,000 after purchasing an additional 89 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Arrow Electronics by 6.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,554 shares of the technology company’s stock worth $171,000 after purchasing an additional 90 shares in the last quarter. Finally, Studio Investment Management LLC raised its stake in shares of Arrow Electronics by 3.2% in the fourth quarter. Studio Investment Management LLC now owns 3,094 shares of the technology company’s stock worth $341,000 after purchasing an additional 95 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics Stock Down 0.6%
ARW stock opened at $213.56 on Wednesday. Arrow Electronics, Inc. has a fifty-two week low of $101.79 and a fifty-two week high of $237.33. The business’s 50-day moving average is $210.63 and its two-hundred day moving average is $162.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 1.24. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 15.28 and a beta of 1.19.
Arrow Electronics announced that its board has initiated a stock buyback plan on Wednesday, May 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to buy up to 9.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
ARW has been the topic of several recent analyst reports. Truist Financial increased their price objective on Arrow Electronics from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Bank of America raised Arrow Electronics from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $122.00 to $233.00 in a research report on Wednesday, May 13th. Raymond James Financial reaffirmed an “outperform” rating and set a $220.00 price target on shares of Arrow Electronics in a report on Friday, May 8th. Wells Fargo & Company lifted their price target on shares of Arrow Electronics from $140.00 to $165.00 and gave the stock an “underweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Arrow Electronics in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $219.50.
Get Our Latest Stock Report on Arrow Electronics
Insider Buying and Selling
In related news, SVP Carine Lamercie Jean-Claude sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.00, for a total transaction of $648,000.00. Following the completion of the sale, the senior vice president directly owned 12,626 shares in the company, valued at approximately $2,727,216. The trade was a 19.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Nowak sold 3,473 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $210.99, for a total transaction of $732,768.27. Following the completion of the transaction, the insider owned 48,835 shares in the company, valued at $10,303,696.65. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.
Arrow Electronics Profile
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.
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