Sanctuary Advisors LLC purchased a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,708 shares of the technology company’s stock, valued at approximately $863,000.
Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in Arrow Electronics in the first quarter valued at about $682,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Arrow Electronics by 20.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company’s stock worth $7,404,000 after buying an additional 10,083 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Arrow Electronics by 128.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company’s stock worth $4,570,000 after buying an additional 19,880 shares during the period. Russell Investments Group Ltd. boosted its stake in Arrow Electronics by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 96,210 shares of the technology company’s stock valued at $12,456,000 after buying an additional 6,157 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in Arrow Electronics by 368.7% in the first quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company’s stock valued at $3,548,000 after acquiring an additional 21,563 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.
Arrow Electronics Stock Up 0.8 %
Shares of NYSE ARW opened at $133.57 on Friday. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $136.93. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 12.59 and a beta of 1.26. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $129.99 and its 200 day simple moving average is $127.64.
Analyst Ratings Changes
Several equities research analysts have recently commented on ARW shares. Truist Financial boosted their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Finally, Raymond James raised their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $130.75.
Get Our Latest Report on Arrow Electronics
Arrow Electronics Company 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.
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