Avnet, Inc. (NASDAQ:AVT) Shares Bought by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. grew its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 12.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 491,737 shares of the company’s stock after acquiring an additional 54,102 shares during the period. Bahl & Gaynor Inc. owned about 0.57% of Avnet worth $25,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AVT. FMR LLC grew its position in Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after purchasing an additional 114,217 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock worth $11,197,000 after buying an additional 148,588 shares during the period. Weiss Asset Management LP grew its stake in shares of Avnet by 35.7% in the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after acquiring an additional 66,973 shares during the last quarter. JPMorgan Chase & Co. increased its position in Avnet by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock worth $13,213,000 after acquiring an additional 28,453 shares during the period. Finally, Park Avenue Securities LLC increased its position in Avnet by 22.6% during the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock worth $312,000 after acquiring an additional 1,101 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Down 2.7 %

Shares of Avnet stock opened at $49.17 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 52-week low of $45.50 and a 52-week high of $59.24. The firm has a market cap of $4.25 billion, a PE ratio of 13.93, a P/E/G ratio of 1.13 and a beta of 1.13. The business’s 50 day simple moving average is $51.93 and its 200 day simple moving average is $53.19.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. On average, analysts predict that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s payout ratio is 37.39%.

Wall Street Analyst Weigh In

AVT has been the topic of a number of recent research reports. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial decreased their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, January 30th.

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.