Natixis Advisors LLC Purchases 1,302 Shares of Avnet, Inc. (NASDAQ:AVT)

Natixis Advisors LLC lifted its position in shares of Avnet, Inc. (NASDAQ:AVT) by 10.1% in the third quarter, HoldingsChannel.com reports. The fund owned 14,243 shares of the company’s stock after buying an additional 1,302 shares during the period. Natixis Advisors LLC’s holdings in Avnet were worth $774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVT. O Shaughnessy Asset Management LLC lifted its holdings in shares of Avnet by 4.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,548 shares of the company’s stock worth $325,000 after acquiring an additional 276 shares during the period. Tidal Investments LLC acquired a new position in Avnet during the 1st quarter worth approximately $839,000. Comerica Bank increased its position in Avnet by 4.5% during the 1st quarter. Comerica Bank now owns 41,099 shares of the company’s stock worth $2,038,000 after purchasing an additional 1,767 shares in the last quarter. Atria Investments Inc acquired a new position in Avnet during the 1st quarter worth approximately $1,872,000. Finally, Verity Asset Management Inc. increased its position in Avnet by 35.9% during the 1st quarter. Verity Asset Management Inc. now owns 12,370 shares of the company’s stock worth $613,000 after purchasing an additional 3,270 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Down 1.1 %

Shares of NASDAQ AVT opened at $54.23 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a 52-week low of $43.62 and a 52-week high of $59.24. The firm has a 50 day moving average price of $54.20 and a two-hundred day moving average price of $53.34. The stock has a market cap of $4.71 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 1.03 and a beta of 1.16.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (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 firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the company posted $1.61 EPS. The company’s revenue was down 11.5% on a year-over-year basis. As a group, equities analysts forecast that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) is presently 34.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AVT shares. Stifel Nicolaus upped their price objective on shares of Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company upped their price objective on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. Finally, Truist Financial upped their price objective on shares of Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, August 9th.

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.