Harbor Capital Advisors Inc. Boosts Position in Avnet, Inc. (NASDAQ:AVT)

Harbor Capital Advisors Inc. lifted its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 227.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,007 shares of the company's stock after acquiring an additional 148,588 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.25% of Avnet worth $11,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. FMR LLC boosted its position in Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company's stock valued at $31,326,000 after buying an additional 114,217 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Avnet by 8.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company's stock valued at $8,238,000 after acquiring an additional 12,238 shares in the last quarter. Federated Hermes Inc. grew its position in Avnet by 46.8% during the 2nd quarter. Federated Hermes Inc. now owns 40,231 shares of the company's stock worth $2,071,000 after acquiring an additional 12,832 shares during the last quarter. Kendall Capital Management increased its holdings in Avnet by 21.2% in the 2nd quarter. Kendall Capital Management now owns 118,843 shares of the company's stock worth $6,119,000 after purchasing an additional 20,810 shares in the last quarter. Finally, Weiss Asset Management LP raised its position in 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 purchasing an additional 66,973 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Trading Down 0.7 %

AVT stock traded down $0.34 during midday trading on Friday, hitting $51.43. The stock had a trading volume of 494,646 shares, compared to its average volume of 532,208. The company has a current ratio of 2.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.48. The firm has a market cap of $4.47 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The business has a fifty day moving average price of $53.81 and a two-hundred day moving average price of $53.30. Avnet, Inc. has a 1-year low of $43.62 and a 1-year high of $59.24.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm earned $1.61 EPS. The firm's quarterly revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Wednesday, December 4th. Avnet's payout ratio is currently 34.55%.

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.