Twin Capital Management Inc. Decreases Stock Position in Avnet, Inc. (NASDAQ:AVT)

Twin Capital Management Inc. lessened its stake in Avnet, Inc. (NASDAQ:AVT) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,665 shares of the company’s stock after selling 665 shares during the period. Twin Capital Management Inc.’s holdings in Avnet were worth $1,848,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mariner LLC grew its position in Avnet by 32.1% in the 3rd quarter. Mariner LLC now owns 27,316 shares of the company’s stock worth $1,316,000 after purchasing an additional 6,630 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Avnet by 37.9% during the 3rd quarter. Bahl & Gaynor Inc. now owns 325,679 shares of the company’s stock valued at $15,694,000 after acquiring an additional 89,524 shares during the period. Earnest Partners LLC grew its position in shares of Avnet by 3.4% during the 3rd quarter. Earnest Partners LLC now owns 1,420,388 shares of the company’s stock valued at $68,448,000 after acquiring an additional 46,044 shares during the period. Vanguard Group Inc. grew its position in shares of Avnet by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 10,519,704 shares of the company’s stock valued at $506,945,000 after acquiring an additional 135,171 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Avnet by 336.7% during the 3rd quarter. Federated Hermes Inc. now owns 41,842 shares of the company’s stock valued at $2,016,000 after acquiring an additional 32,261 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of AVT stock opened at $46.54 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 1.05. The company has a market capitalization of $4.21 billion, a P/E ratio of 6.43, a P/E/G ratio of 0.62 and a beta of 1.24. The company’s 50-day simple moving average is $47.16 and its two-hundred day simple moving average is $47.35. Avnet, Inc. has a one year low of $39.64 and a one year high of $51.65.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.15 billion. Avnet had a net margin of 2.62% and a return on equity of 13.60%. During the same period in the prior year, the firm earned $2.00 EPS. As a group, equities analysts anticipate that Avnet, Inc. will post 5.25 EPS for the current year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.66%. Avnet’s dividend payout ratio is presently 17.13%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut their price objective on shares of Avnet from $48.00 to $42.00 and set a “sell” rating for the company in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.50.

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.