AXQ Capital LP Grows Stake in Arrow Electronics, Inc. (NYSE:ARW)

AXQ Capital LP grew its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 209.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,810 shares of the technology company's stock after acquiring an additional 5,962 shares during the quarter. AXQ Capital LP's holdings in Arrow Electronics were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. FMR LLC increased its position in Arrow Electronics by 371.1% in the third quarter. FMR LLC now owns 434,905 shares of the technology company's stock worth $57,768,000 after purchasing an additional 342,590 shares during the last quarter. Boston Partners increased its holdings in shares of Arrow Electronics by 14.8% in the 4th quarter. Boston Partners now owns 2,474,074 shares of the technology company's stock worth $280,138,000 after buying an additional 318,329 shares during the last quarter. Lind Value II ApS raised its position in shares of Arrow Electronics by 36.3% during the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company's stock valued at $73,374,000 after buying an additional 172,669 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock valued at $41,948,000 after acquiring an additional 168,904 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Arrow Electronics by 220.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company's stock valued at $19,859,000 after acquiring an additional 102,854 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, Director William F. Austen purchased 1,900 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $104.12 per share, with a total value of $197,828.00. Following the completion of the acquisition, the director now owns 7,858 shares of the company's stock, valued at approximately $818,174.96. This represents a 31.89 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Yun Sung Cho sold 237 shares of Arrow Electronics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the transaction, the chief accounting officer now directly owns 2,086 shares of the company's stock, valued at $226,810.78. The trade was a 10.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARW. Bank of America downgraded Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $121.25.

Arrow Electronics Trading Down 0.1 %

Shares of NYSE ARW traded down $0.14 during mid-day trading on Wednesday, reaching $106.97. The company had a trading volume of 399,277 shares, compared to its average volume of 433,808. Arrow Electronics, Inc. has a 52 week low of $101.78 and a 52 week high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The business's 50-day moving average is $110.40 and its 200-day moving average is $118.64. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. Equities analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

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.