Wealth Enhancement Advisory Services LLC reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 42.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,873 shares of the technology company’s stock after selling 17,638 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Arrow Electronics were worth $2,714,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of ARW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Arrow Electronics by 45.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,748 shares of the technology company’s stock valued at $2,154,000 after acquiring an additional 6,523 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Arrow Electronics by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,971 shares of the technology company’s stock worth $20,763,000 after acquiring an additional 14,886 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Arrow Electronics by 68.1% in the 1st 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. Sivia Capital Partners LLC acquired a new stake in shares of Arrow Electronics in the 2nd quarter valued at approximately $492,000. Finally, Prudential Financial Inc. grew its holdings in shares of Arrow Electronics by 21.1% during the 2nd quarter. Prudential Financial Inc. now owns 5,741 shares of the technology company’s stock valued at $732,000 after purchasing an additional 1,002 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.
Arrow Electronics Trading Up 2.3%
Shares of NYSE ARW opened at $146.64 on Thursday. The firm has a 50 day moving average price of $143.41 and a two-hundred day moving average price of $124.82. The stock has a market cap of $7.49 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.71 and a beta of 1.01. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $162.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.36.
Insider Activity
In related news, insider Eric Nowak sold 12,699 shares of Arrow Electronics stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $157.09, for a total transaction of $1,994,885.91. Following the completion of the transaction, the insider owned 43,509 shares of the company’s stock, valued at $6,834,828.81. This trade represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 4,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $156.65, for a total transaction of $626,600.00. Following the completion of the transaction, the senior vice president owned 16,261 shares in the company, valued at approximately $2,547,285.65. The trade was a 19.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,199 shares of company stock worth $3,009,786 in the last 90 days. 1.00% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms recently issued reports on ARW. Zacks Research upgraded shares of Arrow Electronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings raised shares of Arrow Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Truist Financial upped their price target on shares of Arrow Electronics from $120.00 to $148.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Wells Fargo & Company raised their price objective on Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $124.33.
Check Out Our Latest Report on Arrow Electronics
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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