Mirabella Financial Services LLP reduced its position in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 50.3% in the second quarter, Holdings Channel.com reports. The fund owned 1,416 shares of the technology company’s stock after selling 1,433 shares during the period. Mirabella Financial Services LLP’s holdings in Arrow Electronics were worth $203,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. purchased a new position in Arrow Electronics in the 1st quarter worth approximately $25,000. Machina Capital S.A.S. purchased a new position in Arrow Electronics in the 1st quarter worth approximately $25,000. Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics in the 1st quarter worth approximately $52,000. Counterpoint Mutual Funds LLC purchased a new position in Arrow Electronics in the 2nd quarter worth approximately $97,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Arrow Electronics by 34.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 837 shares of the technology company’s stock worth $88,000 after acquiring an additional 213 shares during the last quarter. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on ARW shares. StockNews.com upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. Bank of America cut their price objective on shares of Arrow Electronics from $155.00 to $148.00 in a research report on Sunday, August 6th. Finally, Truist Financial boosted their price objective on shares of Arrow Electronics from $131.00 to $138.00 and gave the company a “hold” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Arrow Electronics presently has a consensus rating of “Hold” and a consensus price target of $133.67.
Arrow Electronics Trading Down 0.6 %
Shares of Arrow Electronics stock opened at $120.28 on Tuesday. The company has a market capitalization of $6.69 billion, a P/E ratio of 6.72, a P/E/G ratio of 1.77 and a beta of 1.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.61. The company has a fifty day moving average of $122.30 and a 200 day moving average of $127.86. Arrow Electronics, Inc. has a fifty-two week low of $101.01 and a fifty-two week high of $147.42.
Arrow Electronics Profile
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.
- Five stocks we like better than Arrow Electronics
- Golden Cross Stocks: Pattern, Examples and Charts
- 3 payroll companies get clocked, but 1 looks cheap
- How to Invest in Communication Stocks
- 3 lithium stocks at rock bottom prices for EV believers
- What Does Downgrade Mean in Investing?
- Pfizer and Sanofi shares fall, which one to scoop up?
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.