Greenhaven Associates Inc., an investment management company, has significantly increased its holdings in Arrow Electronics, Inc. during the second quarter of this year. According to the firm’s latest filing with the Securities and Exchange Commission, it acquired an additional 826,051 shares, resulting in a 122.9% increase compared to its previous position.
At the end of the reporting period, Greenhaven Associates Inc. owned a total of 1,498,038 shares of Arrow Electronics’ stock. This signifies a notable increase in the firm’s stake in the technology company. Additionally, Arrow Electronics now comprises approximately 2.8% of Greenhaven Associates Inc.’s overall investment portfolio. With this significant increase in holdings, Arrow Electronics is now ranked as the 13th largest position for Greenhaven Associates Inc.
In terms of market value, Greenhaven Associates Inc.’s holdings in Arrow Electronics are valued at $214,564,000 at the end of the latest reporting period. This substantial valuation further underscores Greenhaven Associates Inc.’s confidence in Arrow Electronics as a worthwhile investment opportunity.
Arrow Electronics is a renowned provider of products, services, and solutions for industrial and commercial users in the field of electronic components and enterprise computing solutions. The company operates across various regions including Americas, Europe, Middle East, Africa, and Asia Pacific.
Arrow Electronics operates through two main segments: Global Components and Global Enterprise Computing Solutions. In its Global Components segment, the company offers a comprehensive range of electronic components that cater to diverse industries and applications. These components include semiconductors, connectors, passive components, electromechanical devices such as switches and relays.
The second segment of Arrow Electronics’ operations focuses on providing enterprise computing solutions on a global scale. By harnessing technological advancements and industry expertise, they aim to deliver innovative solutions that enhance productivity and efficiency within various organizations.
As Greenhaven Associates Inc.’s increased position indicates their confidence in Arrow Electronics, it is crucial to consider the underlying factors that contribute to this sentiment. Investors may find it beneficial to explore Arrow Electronics’ financial performance, product offerings, market presence, and competitive advantages when assessing the potential value and stability of their investment.
In conclusion, Greenhaven Associates Inc.’s substantial increase in holdings of Arrow Electronics reflects their confidence in the company’s potential growth and long-term prospects. With its expansive range of electronic components and enterprise computing solutions, Arrow Electronics continues to serve industrial and commercial users worldwide. As always, investors should conduct thorough research and analysis before making any investment decisions.
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Date:03 December, 2023
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Institutional Investors and Hedge Funds Show Strong Interest in Arrow Electronics as Company Faces Mixed Results
Arrow Electronics, Inc. (NYSE:ARW), a leading technology company, has recently attracted the attention of institutional investors and hedge funds. Notable among them is Machina Capital S.A.S., which acquired a new position in Arrow Electronics during the first quarter with a value of $25,000. Similarly, Desjardins Global Asset Management Inc. also purchased shares worth approximately $25,000 during the first quarter. Brown Brothers Harriman & Co. joined the list of investors by acquiring a stake in Arrow Electronics valued at around $52,000 in the same period.
Furthermore, Steward Partners Investment Advisory LLC increased its position in Arrow Electronics by 34.1% during the fourth quarter and currently owns 837 shares of the company, which are valued at $88,000. Covestor Ltd also grew its stake in Arrow Electronics by 55.6% during the first quarter and now holds 879 shares worth $104,000. These investments clearly highlight the confidence that institutional investors and hedge funds have in Arrow Electronics.
Hedge funds and institutional investors currently own approximately 94.79% of Arrow Electronics’ stock, indicating strong interest from these financial entities.
Aside from investor interest, research analysts have closely followed Arrow Electronics’ performance through comprehensive reports. Bank of America decreased their price objective on the company’s shares from $155 to $148 in a recent report issued on August 6th.
In another report published on August 17th by StockNews.com, they initiated coverage on Arrow Electronics with a “hold” rating for the stock. Lastly, Truist Financial raised their price objective for Arrow Electronics from $131 to $138 and provided it with a “hold” rating on August 7th.
The aggregate rating based on Bloomberg.com data reveals that ARW has an average rating of “Hold” with an average price target of $129.57.
Looking into current market performance, Arrow Electronics opened at $127.53 on September 20, 2023. The company’s financial health appears stable with a debt-to-equity ratio of 0.65. It also maintains a current ratio of 1.61 and a quick ratio of 1.09.
Additionally, the stock price has shown some stability, with its 50-day simple moving average at $133.13 and its 200-day simple moving average at $127.65.
In terms of market capitalization, Arrow Electronics stands at approximately $7.10 billion, indicating its relevance and influence within the industry.
Arrow Electronics released its earnings results on August 3rd, reporting an impressive earnings per share (EPS) figure of $4.37 for the quarter. This surpassed analysts’ consensus estimate by $0.04 and demonstrated the company’s ability to outperform expectations.
The technology giant achieved a net margin of 3.35% and a return on equity of 22.19%. However, it experienced a decline in revenue during the same quarter compared to the previous year, with revenues amounting to $8.51 billion instead of the anticipated $8.73 billion.
These mixed results highlight both strengths and challenges that Arrow Electronics is currently facing in its operations.
Looking ahead, analysts predict that Arrow Electronics will post earnings per share of 16.07 for the current year based on aggregated forecasts from various industry experts.
As we navigate through an evolving technological landscape, investors are closely following companies like Arrow Electronics for potential investment opportunities and future growth prospects in the technology sector.