AQR Capital Management LLC raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 130.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,313,997 shares of the technology company’s stock after acquiring an additional 1,311,972 shares during the quarter. AQR Capital Management LLC’s holdings in Arrow Electronics were worth $294,873,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of ARW. Caxton Associates LLP purchased a new position in Arrow Electronics during the first quarter worth approximately $501,000. Creative Planning increased its stake in shares of Arrow Electronics by 77.0% in the 2nd quarter. Creative Planning now owns 15,080 shares of the technology company’s stock worth $1,922,000 after acquiring an additional 6,558 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of Arrow Electronics during the 2nd quarter valued at about $263,000. Bayforest Capital Ltd boosted its position in shares of Arrow Electronics by 653.1% during the 2nd quarter. Bayforest Capital Ltd now owns 6,650 shares of the technology company’s stock valued at $847,000 after acquiring an additional 5,767 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Arrow Electronics by 7.8% in the first quarter. LPL Financial LLC now owns 34,386 shares of the technology company’s stock valued at $3,570,000 after purchasing an additional 2,475 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics Price Performance
Arrow Electronics stock opened at $113.58 on Friday. The company’s 50 day simple moving average is $113.23 and its 200-day simple moving average is $120.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.14 and a current ratio of 1.46. Arrow Electronics, Inc. has a 1 year low of $86.50 and a 1 year high of $134.74. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04.
Wall Street Analyst Weigh In
Several research firms have weighed in on ARW. Zacks Research lowered shares of Arrow Electronics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Arrow Electronics in a research report on Wednesday, October 8th. Wall Street Zen cut Arrow Electronics from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Wells Fargo & Company lowered their price objective on Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating for the company in a research report on Friday, October 31st. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Arrow Electronics currently has a consensus rating of “Reduce” and an average target price of $102.00.
About Arrow Electronics
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.
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