Wealth Enhancement Advisory Services LLC grew its holdings in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 22.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,511 shares of the technology company’s stock after buying an additional 7,551 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Arrow Electronics were worth $4,963,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of Arrow Electronics by 84.2% in the second quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company’s stock worth $28,000 after acquiring an additional 101 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Arrow Electronics by 660.0% during the second quarter. True Wealth Design LLC now owns 266 shares of the technology company’s stock valued at $34,000 after purchasing an additional 231 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Arrow Electronics by 1,547.1% in the second quarter. Hantz Financial Services Inc. now owns 280 shares of the technology company’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Arrow Electronics by 68.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 353 shares of the technology company’s stock worth $37,000 after purchasing an additional 143 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in Arrow Electronics during the 2nd quarter worth $62,000. Institutional investors and hedge funds own 99.34% of the company’s stock.
Arrow Electronics Stock Performance
Shares of Arrow Electronics stock opened at $117.59 on Tuesday. The stock’s fifty day simple moving average is $112.34 and its 200 day simple moving average is $118.49. The company has a current ratio of 1.46, a quick ratio of 1.14 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.06 billion, a PE ratio of 12.99, a PEG ratio of 0.91 and a beta of 1.03. Arrow Electronics, Inc. has a 12 month low of $86.50 and a 12 month high of $134.74.
Analyst Ratings Changes
ARW has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Arrow Electronics in a research note on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Wall Street Zen lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Zacks Research downgraded Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $102.00.
Read Our Latest Stock Analysis on Arrow Electronics
About Arrow Electronics
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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