Northern Trust Corp Has $51.76 Million Position in Avnet, Inc. (AVT)
Northern Trust Corp lessened its position in shares of Avnet, Inc. (NYSE:AVT) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,331,326 shares of the technology company’s stock after selling 16,766 shares during the period. Northern Trust Corp owned approximately 1.07% of Avnet worth $51,761,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of AVT. UBS Asset Management Americas Inc. increased its holdings in Avnet by 2.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 771,014 shares of the technology company’s stock worth $35,282,000 after acquiring an additional 15,722 shares during the period. SG Americas Securities LLC increased its holdings in Avnet by 41.6% during the 1st quarter. SG Americas Securities LLC now owns 19,832 shares of the technology company’s stock worth $908,000 after acquiring an additional 5,824 shares during the period. United Services Automobile Association bought a new stake in Avnet during the 1st quarter worth approximately $1,433,000. Royce & Associates LP bought a new stake in Avnet during the 1st quarter worth approximately $3,661,000. Finally, Ngam Advisors L.P. increased its holdings in Avnet by 537.9% during the 1st quarter. Ngam Advisors L.P. now owns 81,529 shares of the technology company’s stock worth $3,731,000 after acquiring an additional 68,749 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Avnet from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Zacks Investment Research raised shares of Avnet from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine raised shares of Avnet from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Deutsche Bank AG reissued a “hold” rating and issued a $39.00 price target (down previously from $40.00) on shares of Avnet in a report on Thursday, August 10th. Finally, Bank of America Corporation lowered shares of Avnet from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $44.00 to $40.00 in a report on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.40.
Avnet, Inc. (AVT) opened at 40.46 on Friday. The stock has a 50 day moving average of $38.31 and a 200-day moving average of $39.38. Avnet, Inc. has a one year low of $35.67 and a one year high of $51.50. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 9.90 and a beta of 1.07.
Avnet (NYSE:AVT) last released its earnings results on Wednesday, August 9th. The technology company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.77 by $0.07. Avnet had a net margin of 3.00% and a return on equity of 8.87%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Avnet, Inc. will post $3.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, September 1st. Avnet’s dividend payout ratio (DPR) is presently 17.69%.
In other news, Director J Veronica Biggins sold 10,600 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $37.10, for a total value of $393,260.00. Following the transaction, the director now owns 12,191 shares of the company’s stock, valued at $452,286.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.65% of the stock is currently owned by 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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