Bahl & Gaynor Inc. Has $25.73 Million Stock Position in Avnet, Inc. (NASDAQ:AVT)

Bahl & Gaynor Inc. raised its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 491,737 shares of the company's stock after purchasing an additional 54,102 shares during the quarter. Bahl & Gaynor Inc. owned 0.57% of Avnet worth $25,728,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AVT. Greenhaven Associates Inc. boosted its holdings in shares of Avnet by 1.0% during the fourth quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company's stock worth $207,336,000 after purchasing an additional 38,185 shares during the period. Pacer Advisors Inc. lifted its position in Avnet by 11,848.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company's stock worth $148,623,000 after buying an additional 2,816,889 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Avnet by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,116,697 shares of the company's stock valued at $58,426,000 after buying an additional 43,547 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Avnet by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 921,854 shares of the company's stock valued at $48,231,000 after acquiring an additional 5,209 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Avnet by 2.3% in the fourth quarter. Allianz Asset Management GmbH now owns 873,340 shares of the company's stock worth $45,693,000 after acquiring an additional 19,331 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

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Avnet Stock Up 2.6 %

Shares of Avnet stock traded up $1.29 during midday trading on Friday, reaching $50.44. 829,325 shares of the company's stock traded hands, compared to its average volume of 621,482. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 52 week low of $45.50 and a 52 week high of $59.24. The company's 50 day simple moving average is $51.65 and its 200 day simple moving average is $53.10. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Equities analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet's payout ratio is 37.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial reduced their price objective on Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a research report on Thursday, January 30th. Bank of America lowered Avnet from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.