Edgestream Partners L.P. lifted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 1,012.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,450 shares of the technology company’s stock after buying an additional 159,673 shares during the quarter. Arrow Electronics makes up approximately 1.3% of Edgestream Partners L.P.’s investment portfolio, making the stock its 5th largest position. Edgestream Partners L.P. owned approximately 0.29% of Arrow Electronics worth $16,175,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Deutsche Bank AG increased its position in shares of Arrow Electronics by 244.9% during the second quarter. Deutsche Bank AG now owns 631,752 shares of the technology company’s stock worth $70,811,000 after purchasing an additional 448,593 shares in the last quarter. Towle & Co lifted its stake in shares of Arrow Electronics by 7,977.7% in the 2nd quarter. Towle & Co now owns 210,020 shares of the technology company’s stock valued at $23,541,000 after purchasing an additional 207,420 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Arrow Electronics by 8.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,467,162 shares of the technology company’s stock valued at $269,562,000 after purchasing an additional 193,574 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in Arrow Electronics during the 3rd quarter worth about $14,240,000. Finally, Allianz Asset Management GmbH lifted its stake in Arrow Electronics by 51.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 420,345 shares of the technology company’s stock worth $38,752,000 after acquiring an additional 143,058 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Arrow Electronics news, insider Kristin Diana Russell sold 10,306 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $117.70, for a total value of $1,213,016.20. Following the transaction, the insider now directly owns 14,535 shares in the company, valued at approximately $1,710,769.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on ARW shares. Raymond James increased their target price on Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. The Goldman Sachs Group increased their price target on Arrow Electronics from $111.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. Citigroup increased their price objective on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Wells Fargo & Company increased their price objective on Arrow Electronics from $87.00 to $100.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. Finally, Truist Financial increased their price objective on Arrow Electronics from $116.00 to $131.00 and gave the company a “hold” rating in a report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arrow Electronics has an average rating of “Hold” and an average price target of $125.33.
Arrow Electronics Stock Performance
NYSE:ARW traded down $0.15 during mid-day trading on Thursday, reaching $118.92. 95,228 shares of the stock were exchanged, compared to its average volume of 444,200. The company has a 50 day simple moving average of $116.32 and a 200-day simple moving average of $107.68. The stock has a market capitalization of $6.93 billion, a P/E ratio of 5.47, a P/E/G ratio of 1.87 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 0.57. Arrow Electronics, Inc. has a 1 year low of $89.38 and a 1 year high of $134.56.
Arrow Electronics (NYSE:ARW – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The technology company reported $5.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.68 by $0.01. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.31 billion. Arrow Electronics had a return on equity of 26.96% and a net margin of 3.84%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.37 EPS. Analysts anticipate that Arrow Electronics, Inc. will post 15.8 earnings per share for the current fiscal year.
About Arrow Electronics
Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.