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

AXQ Capital LP grew its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 209.3% in the 4th 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 purchasing an additional 5,962 shares during the quarter. AXQ Capital LP's holdings in Arrow Electronics were worth $997,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Meixler Investment Management Ltd. grew its position in shares of Arrow Electronics by 2.6% during the 4th quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company's stock valued at $387,000 after acquiring an additional 88 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Arrow Electronics by 1.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,766 shares of the technology company's stock valued at $539,000 after purchasing an additional 89 shares during the last quarter. Ironwood Investment Management LLC grew its holdings in Arrow Electronics by 0.4% during the fourth quarter. Ironwood Investment Management LLC now owns 22,545 shares of the technology company's stock valued at $2,550,000 after purchasing an additional 100 shares during the period. Summit Trail Advisors LLC increased its position in Arrow Electronics by 2.8% in the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company's stock worth $521,000 after buying an additional 108 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Arrow Electronics by 24.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company's stock valued at $64,000 after buying an additional 112 shares during the period. 99.34% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

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

Arrow Electronics Price Performance

ARW traded down $0.84 during trading on Tuesday, reaching $107.51. 73,676 shares of the company were exchanged, compared to its average volume of 436,209. Arrow Electronics, Inc. has a 12-month low of $101.78 and a 12-month high of $137.80. The company's 50-day moving average is $110.66 and its two-hundred day moving average is $118.86. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.