Strs Ohio Buys 4,755 Shares of Avnet, Inc. (NASDAQ:AVT)

Strs Ohio raised its stake in Avnet, Inc. (NASDAQ:AVT) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,199 shares of the company’s stock after purchasing an additional 4,755 shares during the period. Strs Ohio owned 0.05% of Avnet worth $2,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AVT. Natixis Advisors L.P. acquired a new position in shares of Avnet during the first quarter worth $448,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Avnet during the 1st quarter valued at about $1,019,000. MetLife Investment Management LLC raised its stake in Avnet by 33.1% in the first quarter. MetLife Investment Management LLC now owns 64,005 shares of the company’s stock valued at $2,598,000 after buying an additional 15,921 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Avnet by 10.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,269 shares of the company’s stock worth $1,472,000 after acquiring an additional 3,372 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Avnet by 9.8% during the first quarter. Great West Life Assurance Co. Can now owns 63,382 shares of the company’s stock worth $2,658,000 after acquiring an additional 5,646 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group decreased 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 given a hold rating to the company. According to data from MarketBeat, Avnet currently has an average rating of “Hold” and an average target price of $45.50.

Avnet Stock Up 0.3 %

Avnet stock opened at $46.66 on Friday. The business’s 50-day simple moving average is $47.20 and its two-hundred day simple moving average is $47.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 2.34. The company has a market cap of $4.22 billion, a PE ratio of 6.44, a PEG ratio of 0.62 and a beta of 1.24. Avnet, Inc. has a fifty-two week low of $39.64 and a fifty-two week 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, beating analysts’ consensus estimates of $1.39 by $0.01. Avnet had a return on equity of 13.60% and a net margin of 2.62%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Equities analysts anticipate that Avnet, Inc. will post 5.25 EPS for the current year.

Avnet Announces Dividend

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

Avnet Company 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.