Hound Partners LLC has reduced its investment in Arrow Electronics, Inc. (NYSE: ARW) by 9.9% during the second quarter of 2023, according to a report from HoldingsChannel. The institutional investor now holds 162,381 shares after selling 17,850 shares in the quarter. This adjustment brings Hound Partners LLC’s total stake in Arrow Electronics to a value of approximately $20.69 million, making it the firm’s 11th largest holding, representing about 2.8% of its overall investment portfolio.
Several other institutional investors have also reassessed their positions in Arrow Electronics. Notably, Brevan Howard Capital Management LP increased its stake by an impressive 296.4% in the second quarter, acquiring an additional 22,868 shares to reach a total of 30,584 shares valued at $3.9 million. Meanwhile, Blue Grotto Capital LLC boosted its holdings by 42.0%, now owning 165,468 shares worth approximately $21.09 million, following the purchase of 48,968 shares during the same period.
AQR Capital Management LLC saw a substantial increase of 130.9%, raising its total to 2,313,997 shares, valued at roughly $294.87 million. Bragg Financial Advisors Inc. also made a slight increase of 1.2%, acquiring an additional 2,830 shares to hold a total of 244,475 shares valued at $31.15 million. Additionally, Peak Asset Management LLC entered the market with a new position in Arrow Electronics worth approximately $222,000. Overall, institutional investors now own 99.34% of Arrow Electronics’ stock.
Current Market Position of Arrow Electronics
As of the latest trading session, Arrow Electronics opened at $113.58. The company maintains a debt-to-equity ratio of 0.48, alongside a current ratio of 1.46 and a quick ratio of 1.14. Recent market performance has seen Arrow Electronics reach a one-year low of $86.50 and a high of $134.74. The company holds a market capitalization of approximately $5.85 billion, with a price-to-earnings (P/E) ratio of 12.55 and a price-to-earnings-growth (PEG) ratio of 1.05. The stock has a beta of 1.04, indicating a volatility level that is slightly above the market average.
Analysts have recently weighed in on Arrow Electronics, leading to a mix of ratings. Wall Street Zen downgraded the stock from a “buy” rating to a “hold” on November 1, 2023, while Zacks Research similarly adjusted its rating from “strong-buy” to “hold” on November 14, 2023. Wells Fargo & Company reduced its price target from $98.00 to $94.00, assigning an “underweight” rating on October 31, 2023. Weiss Ratings reiterated a “hold (c)” rating on October 8, 2023. Currently, two equity research analysts have assigned a “hold” rating while two others have given a “sell” rating. According to data from MarketBeat.com, Arrow Electronics holds an average rating of “Reduce” with a consensus price target set at $102.00.
About Arrow Electronics
Arrow Electronics, Inc. provides a comprehensive range of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions across several regions, including the Americas, Europe, the Middle East, Africa, and Asia Pacific. The company operates through two primary segments: Global Components and Global Enterprise Computing Solutions.
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