Brandywine Global Investment Management LLC lessened its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,997 shares of the company's stock after selling 12,199 shares during the period. Brandywine Global Investment Management LLC owned about 0.35% of Avnet worth $16,010,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company's stock valued at $31,326,000 after purchasing an additional 114,217 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company's stock worth $11,197,000 after buying an additional 148,588 shares during the last quarter. Weiss Asset Management LP lifted its position in shares of Avnet by 35.7% in the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company's stock valued at $13,829,000 after acquiring an additional 66,973 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Avnet by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company's stock worth $13,213,000 after purchasing an additional 28,453 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Avnet by 22.6% during the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company's stock worth $312,000 after buying an additional 1,101 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.
Avnet Trading Down 4.6 %
Avnet stock traded down $2.05 during mid-day trading on Friday, hitting $42.26. The company's stock had a trading volume of 1,163,285 shares, compared to its average volume of 704,258. Avnet, Inc. has a 1 year low of $40.93 and a 1 year high of $59.24. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $3.66 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The stock's fifty day moving average is $49.57 and its two-hundred day moving average is $52.33.
Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. On average, analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.
Avnet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.12%. Avnet's payout ratio is currently 37.39%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on AVT. Bank of America cut shares of Avnet from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial reduced their price objective on Avnet from $54.00 to $52.00 and set a "hold" rating on the stock in a research report on Thursday, January 30th.
Get Our Latest Stock Analysis on Avnet
Avnet Profile
(
Free Report)
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.
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