State of New Jersey Common Pension Fund D lessened its stake in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 37.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,079 shares of the technology company’s stock after selling 9,536 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Arrow Electronics were worth $1,942,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Arrow Electronics during the first quarter valued at $32,000. Versant Capital Management Inc raised its holdings in Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after purchasing an additional 150 shares during the period. Principal Securities Inc. bought a new position in shares of Arrow Electronics in the 4th quarter valued at about $56,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics during the 1st quarter worth approximately $81,000. Institutional investors and hedge funds own 99.34% of the company’s stock.
Arrow Electronics Trading Down 1.7 %
Shares of NYSE ARW opened at $131.64 on Friday. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $136.93. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27. 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 company’s fifty day moving average is $127.46 and its 200-day moving average is $126.50.
Analysts Set New Price Targets
Several brokerages recently weighed in on ARW. Wells Fargo & Company increased their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial lifted their price objective on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Raymond James increased their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Arrow Electronics currently has a consensus rating of “Hold” and a consensus price target of $130.75.
Check Out Our Latest Research Report on ARW
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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