Pallas Capital Advisors LLC decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 51.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,927 shares of the technology company’s stock after selling 6,244 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Arrow Electronics were worth $653,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Arrow Electronics by 45.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,748 shares of the technology company’s stock worth $2,154,000 after purchasing an additional 6,523 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 valued at $20,763,000 after purchasing an additional 14,886 shares during the last quarter. Geneos Wealth Management Inc. boosted 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 buying an additional 143 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Arrow Electronics in the second quarter valued at approximately $492,000. Finally, Franklin Resources Inc. grew its stake in shares of Arrow Electronics by 111.7% during the second quarter. Franklin Resources Inc. now owns 45,304 shares of the technology company’s stock worth $5,773,000 after buying an additional 23,902 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.
Arrow Electronics Price Performance
ARW stock opened at $136.21 on Tuesday. The company has a fifty day moving average price of $142.24 and a 200-day moving average price of $124.56. The company has a market capitalization of $6.96 billion, a P/E ratio of 12.45, a PEG ratio of 0.69 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 Buying and Selling
In other Arrow Electronics news, insider Eric Nowak sold 12,699 shares of Arrow Electronics stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $157.09, for a total transaction of $1,994,885.91. Following the transaction, the insider directly owned 43,509 shares of the company’s stock, valued at approximately $6,834,828.81. The trade was a 22.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Austen purchased 3,960 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was bought at an average cost of $151.87 per share, with a total value of $601,405.20. Following the purchase, the chief executive officer owned 44,722 shares of the company’s stock, valued at approximately $6,791,930.14. This trade represents a 9.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 19,199 shares of company stock valued at $3,009,786 over the last 90 days. 0.80% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Truist Financial increased their price target on Arrow Electronics from $120.00 to $148.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Zacks Research raised Arrow Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Wells Fargo & Company increased their target price on Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a research report on Friday, February 6th. Finally, Weiss Ratings raised Arrow Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Arrow Electronics currently has an average rating of “Hold” and an average price target of $124.33.
Check Out Our Latest Analysis on ARW
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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