Principal Financial Group Inc. Has $11.10 Million Position in Avnet, Inc. (NASDAQ:AVT)

Principal Financial Group Inc. decreased its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 32.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,304 shares of the company's stock after selling 96,622 shares during the period. Principal Financial Group Inc. owned about 0.23% of Avnet worth $11,096,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AVT. FMR LLC boosted its holdings in shares of Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company's stock worth $31,326,000 after buying an additional 114,217 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Avnet by 8.3% during the second quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company's stock worth $8,238,000 after acquiring an additional 12,238 shares during the period. Kendall Capital Management boosted its holdings in shares of Avnet by 21.2% during the second quarter. Kendall Capital Management now owns 118,843 shares of the company's stock worth $6,119,000 after acquiring an additional 20,810 shares during the period. Federated Hermes Inc. increased its stake in shares of Avnet by 46.8% during the second quarter. Federated Hermes Inc. now owns 40,231 shares of the company's stock worth $2,071,000 after purchasing an additional 12,832 shares during the period. Finally, Great Lakes Advisors LLC lifted its holdings in Avnet by 2,607.9% during the 2nd quarter. Great Lakes Advisors LLC now owns 163,449 shares of the company's stock worth $8,416,000 after purchasing an additional 157,413 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Stock Performance

AVT traded down $0.83 during trading on Monday, hitting $52.09. The stock had a trading volume of 512,819 shares, compared to its average volume of 631,826. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. The company has a 50 day moving average price of $54.25 and a 200-day moving average price of $53.35. Avnet, Inc. has a one year low of $43.62 and a one year high of $59.24. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the company posted $1.61 earnings per share. Avnet's revenue was down 11.5% compared to the same quarter last year. As a group, research analysts predict that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.53%. Avnet's dividend payout ratio (DPR) is presently 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.