Amalgamated Bank lessened its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,314 shares of the technology company’s stock after selling 2,859 shares during the quarter. Amalgamated Bank owned approximately 0.07% of Arrow Electronics worth $5,613,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARW. Los Angeles Capital Management LLC grew its position in Arrow Electronics by 372.1% during the first quarter. Los Angeles Capital Management LLC now owns 432,288 shares of the technology company’s stock valued at $51,282,000 after buying an additional 340,716 shares during the period. Woodline Partners LP grew its position in Arrow Electronics by 149.5% during the fourth quarter. Woodline Partners LP now owns 486,443 shares of the technology company’s stock valued at $65,315,000 after buying an additional 291,490 shares during the period. Bank of Nova Scotia purchased a new position in Arrow Electronics during the first quarter valued at $21,824,000. Robeco Institutional Asset Management B.V. lifted its holdings in Arrow Electronics by 19.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 934,101 shares of the technology company’s stock valued at $110,815,000 after purchasing an additional 152,493 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Arrow Electronics by 39.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 491,049 shares of the technology company’s stock valued at $65,934,000 after purchasing an additional 139,891 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.
Arrow Electronics Price Performance
Arrow Electronics stock opened at $97.40 on Tuesday. Arrow Electronics, Inc. has a 12-month low of $94.45 and a 12-month high of $137.95. The stock has a market cap of $6.25 billion, a P/E ratio of 4.84, a PEG ratio of 1.26 and a beta of 1.39. The company has a 50-day moving average price of $111.60 and a 200 day moving average price of $115.38. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.
Arrow Electronics declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on ARW shares. StockNews.com downgraded shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 18th. The Goldman Sachs Group cut their price objective on shares of Arrow Electronics from $158.00 to $127.00 in a research report on Friday, July 15th. Finally, Wells Fargo & Company cut shares of Arrow Electronics from an “equal weight” rating to an “underweight” rating in a research report on Friday.
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.
- Get a free copy of the StockNews.com research report on Arrow Electronics (ARW)
- Oracle’s Short-Term Pain Could Be Your Long-Term Gain
- Lucid is Looking Like a Clear EV Winner
- Still Lovin’ It: Investors Keep Visiting McDonald’s
- Did FedEx Just Deliver A Buying Opportunity?
- Autozone Shifts Back Into Rally-Mode, New Highs Are In Sight
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.