OppenheimerFunds Inc. lifted its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,307 shares of the technology company’s stock after buying an additional 4,155 shares during the period. OppenheimerFunds Inc. owned about 0.11% of Arrow Electronics worth $7,495,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisors Preferred LLC purchased a new position in Arrow Electronics in the 4th quarter worth approximately $121,000. Signaturefd LLC purchased a new position in Arrow Electronics in the 1st quarter worth approximately $131,000. Financial Gravity Companies Inc. purchased a new position in Arrow Electronics in the 4th quarter worth approximately $160,000. IFM Investors Pty Ltd purchased a new position in Arrow Electronics in the 1st quarter worth approximately $208,000. Finally, Evergreen Capital Management LLC purchased a new position in Arrow Electronics in the 1st quarter worth approximately $226,000. 92.75% of the stock is currently owned by institutional investors.
Arrow Electronics opened at $79.10 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.69. Arrow Electronics, Inc. has a twelve month low of $72.31 and a twelve month high of $87.26. The company has a market cap of $6.86 billion, a P/E ratio of 10.46, a PEG ratio of 0.76 and a beta of 1.17.
In related news, SVP Matthew R. Anderson sold 1,785 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $74.16, for a total transaction of $132,375.60. Following the sale, the senior vice president now directly owns 13,050 shares in the company, valued at $967,788. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
A number of equities research analysts have recently weighed in on ARW shares. ValuEngine lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. Stifel Nicolaus cut their price objective on Arrow Electronics from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. Pivotal Research set a $98.00 price objective on Arrow Electronics and gave the stock a “buy” rating in a research report on Saturday, May 5th. Finally, Deutsche Bank cut their price objective on Arrow Electronics from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $87.40.
Arrow Electronics Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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