State Street Corp Has $174.85 Million Position in Avnet, Inc. (NASDAQ:AVT)

State Street Corp decreased its position in shares of Avnet, Inc. (NASDAQ:AVT) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,219,411 shares of the company’s stock after selling 30,515 shares during the period. State Street Corp owned about 3.70% of Avnet worth $174,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Avnet by 35.2% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after purchasing an additional 214 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Avnet in the third quarter valued at approximately $51,000. nVerses Capital LLC acquired a new position in shares of Avnet during the second quarter worth $77,000. GAMMA Investing LLC increased its holdings in shares of Avnet by 20.2% during the third quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock worth $100,000 after buying an additional 309 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Avnet by 38.7% in the 2nd quarter. Blue Trust Inc. now owns 2,995 shares of the company’s stock valued at $148,000 after acquiring an additional 836 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Avnet Trading Up 0.4 %

Shares of AVT stock opened at $54.39 on Friday. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The stock’s fifty day simple moving average is $54.56 and its 200 day simple moving average is $53.42. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.73 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 earnings per share. As a group, sell-side analysts predict that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, December 4th. Avnet’s payout ratio is currently 34.55%.

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.