Allianz Asset Management GmbH Grows Stake in Arrow Electronics, Inc. $ARW

Allianz Asset Management GmbH increased its position in Arrow Electronics, Inc. (NYSE:ARW) by 16.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 378,993 shares of the technology company’s stock after acquiring an additional 54,807 shares during the quarter. Allianz Asset Management GmbH’s holdings in Arrow Electronics were worth $45,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. AGF Management Ltd. boosted its position in Arrow Electronics by 1.5% in the third quarter. AGF Management Ltd. now owns 25,690 shares of the technology company’s stock worth $3,108,000 after purchasing an additional 390 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of Arrow Electronics by 26.6% in the 3rd quarter. Transcend Capital Advisors LLC now owns 3,050 shares of the technology company’s stock worth $369,000 after purchasing an additional 641 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Arrow Electronics by 12.0% in the third quarter. Thrivent Financial for Lutherans now owns 13,678 shares of the technology company’s stock worth $1,655,000 after buying an additional 1,464 shares during the last quarter. Winnow Wealth LLC purchased a new position in shares of Arrow Electronics in the third quarter worth approximately $26,000. Finally, AlphaQuest LLC bought a new stake in Arrow Electronics during the third quarter valued at approximately $631,000. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating on the stock in a research report on Friday, October 31st. Zacks Research cut Arrow Electronics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Arrow Electronics in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $102.00.

Arrow Electronics Stock Up 1.9%

Shares of ARW stock opened at $137.98 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.14. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $139.71. The company’s fifty day moving average price is $116.02 and its 200-day moving average price is $118.60. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.06 and a beta of 1.04.

About Arrow Electronics

Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.

In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.