JPMorgan Chase & Co. boosted its stake in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 3.0% in the 3rd quarter, Holdings Channel reports. The firm owned 382,641 shares of the technology company’s stock after buying an additional 11,288 shares during the quarter. JPMorgan Chase & Co.’s holdings in Arrow Electronics were worth $46,300,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $2,154,000 after buying an additional 6,523 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Arrow Electronics by 8.0% in the 1st 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 period. Geneos Wealth Management Inc. grew its position 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 acquiring an additional 143 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Arrow Electronics during the second quarter valued at approximately $492,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Arrow Electronics by 3.1% during the second quarter. Envestnet Asset Management Inc. now owns 154,094 shares of the technology company’s stock worth $19,636,000 after purchasing an additional 4,701 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics Stock Down 0.2%
NYSE:ARW opened at $153.99 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.36. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.78 and a beta of 1.04. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $162.61. The stock has a 50-day simple moving average of $129.86 and a 200 day simple moving average of $122.12.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Arrow Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Wells Fargo & Company boosted their price target on Arrow Electronics from $94.00 to $115.00 and gave the stock an “underweight” rating in a research note on Friday, February 6th. Finally, Truist Financial increased their price target on Arrow Electronics from $120.00 to $148.00 and gave the company a “hold” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $124.33.
Check Out Our Latest Stock Analysis on Arrow Electronics
Insider Buying and Selling at Arrow Electronics
In other Arrow Electronics news, CEO William F. Austen purchased 3,960 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was acquired at an average cost of $151.87 per share, with a total value of $601,405.20. Following the acquisition, the chief executive officer owned 44,722 shares of the company’s stock, valued at approximately $6,791,930.14. This represents a 9.71% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard John Marano sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $155.32, for a total transaction of $388,300.00. Following the sale, the insider directly owned 24,096 shares of the company’s stock, valued at approximately $3,742,590.72. This represents a 9.40% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 19,199 shares of company stock worth $3,009,786. Company insiders own 1.00% of the company’s stock.
About Arrow Electronics
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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