Quantinno Capital Management LP increased its position in Avnet, Inc. (NASDAQ:AVT - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,847 shares of the company's stock after purchasing an additional 20,629 shares during the quarter. Quantinno Capital Management LP owned approximately 0.14% of Avnet worth $6,113,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in Avnet by 16.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 54,221 shares of the company's stock valued at $2,837,000 after buying an additional 7,800 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Avnet by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company's stock worth $312,000 after purchasing an additional 1,101 shares during the last quarter. Barclays PLC raised its stake in shares of Avnet by 87.6% in the third quarter. Barclays PLC now owns 91,842 shares of the company's stock worth $4,988,000 after purchasing an additional 42,880 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Avnet by 11,848.6% in the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company's stock worth $148,623,000 after purchasing an additional 2,816,889 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of Avnet by 1.0% in the fourth quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company's stock worth $207,336,000 after purchasing an additional 38,185 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.
Insider Transactions at Avnet
In related news, VP Elizabeth Mcmullen sold 4,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total transaction of $211,200.00. Following the completion of the transaction, the vice president now owns 14,626 shares in the company, valued at $772,252.80. This represents a 21.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on AVT shares. Truist Financial decreased their price target on Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Bank of America lowered Avnet from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $58.00 to $48.00 in a report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price objective on Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Thursday, May 1st.
Read Our Latest Stock Analysis on Avnet
Avnet Stock Performance
NASDAQ:AVT traded down $0.02 during mid-day trading on Tuesday, hitting $50.91. 503,763 shares of the company traded hands, compared to its average volume of 752,651. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock's fifty day moving average price is $48.16 and its 200-day moving average price is $51.04. Avnet, Inc. has a one year low of $39.22 and a one year high of $59.24.
Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.25 billion. Avnet had a net margin of 1.41% and a return on equity of 7.49%. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 earnings per share. Research analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.
Avnet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.59%. Avnet's payout ratio is 36.97%.
About Avnet
(
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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