Federated Hermes Inc. Has $3.25 Million Stake in Avnet, Inc. (NASDAQ:AVT)

Federated Hermes Inc. lifted its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,119 shares of the company's stock after acquiring an additional 15,260 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Avnet worth $3,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of AVT. Synergy Investment Management LLC bought a new stake in shares of Avnet in the fourth quarter worth $38,000. Principal Securities Inc. lifted its holdings in Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after buying an additional 211 shares during the period. Quadrant Capital Group LLC grew its position in shares of Avnet by 30.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company's stock valued at $76,000 after buying an additional 340 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Avnet by 1,768.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company's stock valued at $113,000 after buying an additional 2,051 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company's stock worth $114,000 after acquiring an additional 341 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Stock Up 1.5 %

NASDAQ AVT traded up $0.69 on Friday, hitting $47.20. 943,579 shares of the company were exchanged, compared to its average volume of 728,288. Avnet, Inc. has a 12 month low of $39.22 and a 12 month 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 company has a market cap of $4.08 billion, a PE ratio of 13.37, a PEG ratio of 1.13 and a beta of 1.04. The stock has a fifty day moving average of $48.22 and a 200-day moving average of $51.73.

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

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.80%. The ex-dividend date was Wednesday, March 5th. Avnet's payout ratio is currently 37.39%.

Analyst Ratings Changes

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