Tower Research Capital LLC TRC lifted its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 667.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,818 shares of the company's stock after buying an additional 8,539 shares during the quarter. Tower Research Capital LLC TRC's holdings in Avnet were worth $514,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AVT. GeoWealth Management LLC purchased a new position in Avnet during the 4th quarter valued at about $31,000. Synergy Investment Management LLC purchased a new position in Avnet during the fourth quarter valued at approximately $38,000. Natixis raised its stake in Avnet by 1,463.8% in the fourth quarter. Natixis now owns 735 shares of the company's stock worth $38,000 after buying an additional 688 shares in the last quarter. Bessemer Group Inc. raised its stake in Avnet by 621.8% in the fourth quarter. Bessemer Group Inc. now owns 960 shares of the company's stock worth $50,000 after buying an additional 827 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in Avnet by 18.2% during the fourth 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. Hedge funds and other institutional investors own 95.78% of the company's stock.
Avnet Stock Up 1.8 %
NASDAQ:AVT traded up $0.90 during mid-day trading on Friday, hitting $49.72. 762,579 shares of the company's stock traded hands, compared to its average volume of 746,875. 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 company has a market capitalization of $4.30 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a fifty day moving average of $47.84 and a 200 day moving average of $51.41. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24.
Avnet (NASDAQ:AVT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. The firm had revenue of $5.32 billion for 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 company's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 earnings per share. On average, analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.
Avnet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Wednesday, March 5th. Avnet's dividend payout ratio (DPR) is presently 37.39%.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a research report on Thursday. Bank of America downgraded shares of Avnet from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $58.00 to $48.00 in a report on Thursday, January 30th. Finally, Truist Financial lowered their price target on shares of Avnet from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Thursday.
Get Our Latest Stock Analysis on Avnet
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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