Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Boston Partners

Boston Partners increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 5.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 855,519 shares of the company’s stock after acquiring an additional 42,302 shares during the period. Boston Partners’ holdings in Avnet were worth $45,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC raised its position in shares of Avnet by 24.7% in the 3rd 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. raised its position in shares of Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after purchasing an additional 148,588 shares in the last quarter. Weiss Asset Management LP raised its position in shares of Avnet by 35.7% in the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock valued at $13,829,000 after purchasing an additional 66,973 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Avnet by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock valued at $13,213,000 after acquiring an additional 28,453 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Avnet by 22.6% in the 4th quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock valued at $312,000 after acquiring an additional 1,101 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVT shares. Truist Financial lowered their price target on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Price Performance

Shares of AVT opened at $49.34 on Thursday. The company has a market cap of $4.27 billion, a P/E ratio of 13.98, a PEG ratio of 1.13 and a beta of 1.09. The stock has a fifty day moving average price of $50.96 and a 200 day moving average price of $52.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. Avnet, Inc. has a 12 month low of $46.13 and a 12 month high of $59.24.

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

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.68%. Avnet’s payout ratio is currently 37.39%.

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.