Harbor Capital Advisors Inc. lessened its stake in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 73.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,614 shares of the technology company’s stock after selling 4,449 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Arrow Electronics were worth $195,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of ARW. ACR Alpine Capital Research LLC lifted its stake in shares of Arrow Electronics by 2,391.7% in the 2nd quarter. ACR Alpine Capital Research LLC now owns 2,156,373 shares of the technology company’s stock worth $274,787,000 after acquiring an additional 2,069,832 shares during the period. AQR Capital Management LLC raised its holdings in Arrow Electronics by 130.9% during the second quarter. AQR Capital Management LLC now owns 2,313,997 shares of the technology company’s stock worth $294,873,000 after purchasing an additional 1,311,972 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Arrow Electronics by 7,460.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 369,498 shares of the technology company’s stock worth $47,085,000 after purchasing an additional 364,611 shares during the period. Alyeska Investment Group L.P. bought a new position in Arrow Electronics during the 1st quarter valued at $35,598,000. Finally, Boston Partners increased its position in shares of Arrow Electronics by 12.5% during the 2nd quarter. Boston Partners now owns 2,739,427 shares of the technology company’s stock valued at $348,518,000 after purchasing an additional 305,182 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.
Arrow Electronics Stock Performance
Shares of ARW opened at $113.09 on Tuesday. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $134.74. The company has a 50-day moving average of $111.95 and a two-hundred day moving average of $120.31. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.14.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating for the company in a report on Friday, October 31st. Wall Street Zen downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research cut shares of Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Arrow Electronics in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $102.00.
Get Our Latest Research Report on ARW
Arrow Electronics Company 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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