Headlands Technologies LLC Makes New $146,000 Investment in Avnet, Inc. (NASDAQ:AVT)

Headlands Technologies LLC purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,790 shares of the company’s stock, valued at approximately $146,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVT. Greenhaven Associates Inc. increased its position in Avnet by 1.0% during the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock valued at $207,336,000 after purchasing an additional 38,185 shares during the period. American Century Companies Inc. increased its holdings in Avnet by 2.1% during the fourth quarter. American Century Companies Inc. now owns 3,502,425 shares of the company’s stock valued at $183,247,000 after buying an additional 72,715 shares during the period. Pacer Advisors Inc. lifted its holdings in Avnet by 11,848.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock worth $148,623,000 after buying an additional 2,816,889 shares during the period. Bank of New York Mellon Corp boosted its position in Avnet by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,116,697 shares of the company’s stock valued at $58,426,000 after acquiring an additional 43,547 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Avnet in the 4th quarter valued at $52,924,000. 95.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVT has been the topic of a number of recent research reports. Truist Financial dropped their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th. Bank of America downgraded shares of Avnet from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th.

Avnet Trading Down 4.6 %

NASDAQ AVT opened at $42.26 on Friday. The company has a fifty day moving average of $49.57 and a 200 day moving average of $52.34. The company has a market capitalization of $3.66 billion, a PE ratio of 11.97, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. Avnet, Inc. has a 1 year low of $40.93 and a 1 year high of $59.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Research analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.12%. Avnet’s payout ratio is 37.39%.

Avnet 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.