Ethic Inc. Has $1.01 Million Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Ethic Inc. grew its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 72.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,244 shares of the company's stock after acquiring an additional 8,115 shares during the quarter. Ethic Inc.'s holdings in Avnet were worth $1,007,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG raised its holdings in Avnet by 9.8% during the fourth quarter. Deutsche Bank AG now owns 29,843 shares of the company's stock valued at $1,561,000 after acquiring an additional 2,655 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Avnet by 142.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 103,791 shares of the company's stock valued at $5,430,000 after buying an additional 61,004 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Avnet during the fourth quarter valued at approximately $424,000. Bank of America Corp DE grew its holdings in Avnet by 149.9% in the fourth quarter. Bank of America Corp DE now owns 701,957 shares of the company's stock valued at $36,726,000 after purchasing an additional 421,098 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Avnet in the fourth quarter valued at approximately $246,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Trading Down 1.1%

AVT traded down $0.59 during trading on Monday, reaching $51.29. 23,730 shares of the company's stock were exchanged, compared to its average volume of 750,242. The company's fifty day moving average price is $48.08 and its 200-day moving average price is $51.07. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. The firm has a market capitalization of $4.30 billion, a PE ratio of 14.52, a P/E/G ratio of 1.13 and a beta of 0.98. Avnet, Inc. has a fifty-two week low of $39.22 and a fifty-two week high of $59.24.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.12. Avnet had a return on equity of 7.49% and a net margin of 1.41%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm's revenue was down 6.0% on a year-over-year basis. As a group, equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.32 annualized dividend and a yield of 2.57%. Avnet's dividend payout ratio (DPR) is presently 36.97%.

Analyst Ratings Changes

AVT has been the subject of several research reports. Truist Financial dropped their target price on Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Finally, Bank of America downgraded shares of Avnet from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $58.00 to $48.00 in a research note on Thursday, January 30th.

Insiders Place Their Bets

In other Avnet news, VP Elizabeth Mcmullen sold 4,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $52.80, for a total value of $211,200.00. Following the completion of the transaction, the vice president now directly owns 14,626 shares in the company, valued at approximately $772,252.80. This trade represents a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.50% of the company's stock.

About Avnet

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.