Brandywine Global Investment Management LLC decreased its stake in Avnet, Inc. (NYSE:AVT) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 332,201 shares of the technology company’s stock after selling 56,759 shares during the quarter. Brandywine Global Investment Management LLC owned 0.28% of Avnet worth $13,162,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Balter Liquid Alternatives LLC acquired a new stake in shares of Avnet during the fourth quarter worth about $136,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Avnet during the fourth quarter worth about $170,000. Robeco Institutional Asset Management B.V. raised its position in shares of Avnet by 136.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,633 shares of the technology company’s stock worth $184,000 after purchasing an additional 2,677 shares during the period. Oakbrook Investments LLC acquired a new stake in shares of Avnet during the fourth quarter worth about $202,000. Finally, Toronto Dominion Bank raised its position in shares of Avnet by 233.3% during the third quarter. Toronto Dominion Bank now owns 5,279 shares of the technology company’s stock worth $207,000 after purchasing an additional 3,695 shares during the period. 96.38% of the stock is currently owned by hedge funds and other institutional investors.
Avnet, Inc. (AVT) opened at $44.40 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $5,330.00, a PE ratio of 19.22, a P/E/G ratio of 1.41 and a beta of 0.97. Avnet, Inc. has a fifty-two week low of $35.67 and a fifty-two week high of $46.61.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, March 12th. This is an increase from Avnet’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.71%. Avnet’s dividend payout ratio (DPR) is presently 31.17%.
A number of equities research analysts have recently commented on the company. Pivotal Research assumed coverage on Avnet in a research report on Tuesday, February 13th. They set a “hold” rating and a $44.00 price target on the stock. Goldman Sachs Group raised Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price target on the stock in a research report on Friday, January 5th. ValuEngine raised Avnet from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Longbow Research raised Avnet from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. Finally, Zacks Investment Research lowered Avnet from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.13.
In related news, insider Philip R. Gallagher sold 14,292 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $42.00, for a total transaction of $600,264.00. Following the completion of the transaction, the insider now directly owns 22,178 shares in the company, valued at $931,476. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kevin V. Summers sold 1,511 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total value of $61,452.37. Following the transaction, the insider now owns 5,354 shares of the company’s stock, valued at $217,747.18. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
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Avnet Company Profile
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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