Avnet, Inc. (NASDAQ:AVT) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in Avnet, Inc. (NASDAQ:AVT) by 11.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 40,168 shares of the company’s stock after purchasing an additional 4,116 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Avnet were worth $2,102,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Avnet in the 3rd quarter valued at about $51,000. Principal Securities Inc. increased its holdings in shares of Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after acquiring an additional 211 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Avnet by 18.6% in the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after acquiring an additional 341 shares during the last quarter. KBC Group NV increased its holdings in shares of Avnet by 55.7% in the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after acquiring an additional 1,200 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Avnet by 442.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock valued at $200,000 after acquiring an additional 3,015 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial dropped 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 Trading Down 1.3 %

NASDAQ:AVT opened at $51.85 on Friday. The stock’s 50 day moving average price is $52.20 and its 200 day moving average price is $53.27. The company has a market capitalization of $4.49 billion, a PE ratio of 14.69, a P/E/G ratio of 1.15 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a 52-week low of $45.45 and a 52-week high of $59.24.

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 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 anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.55%. Avnet’s dividend payout ratio is presently 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.