BNP Paribas Arbitrage SNC Acquires 9,297 Shares of Arrow Electronics, Inc. (NYSE:ARW)

BNP Paribas Arbitrage SNC raised its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,732 shares of the technology company’s stock after acquiring an additional 9,297 shares during the period. BNP Paribas Arbitrage SNC owned about 0.30% of Arrow Electronics worth $23,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Desjardins Global Asset Management Inc. purchased a new stake in shares of Arrow Electronics during the first quarter valued at approximately $25,000. SouthState Corp purchased a new stake in shares of Arrow Electronics during the second quarter valued at approximately $32,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Arrow Electronics during the first quarter valued at approximately $52,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Arrow Electronics by 34.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 837 shares of the technology company’s stock valued at $88,000 after purchasing an additional 213 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Arrow Electronics during the second quarter valued at approximately $97,000. 94.79% of the stock is currently owned by institutional investors.

Arrow Electronics Price Performance

ARW opened at $123.97 on Friday. The stock has a fifty day simple moving average of $120.59 and a two-hundred day simple moving average of $128.13. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44. Arrow Electronics, Inc. has a 12-month low of $101.01 and a 12-month high of $147.42.

Analysts Set New Price Targets

A number of analysts recently commented on ARW shares. Bank of America dropped their price target on Arrow Electronics from $155.00 to $148.00 in a research note on Sunday, August 6th. StockNews.com raised Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Truist Financial raised their price target on Arrow Electronics from $131.00 to $138.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $133.67.

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.