Allianz Asset Management GmbH Has $45.69 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Allianz Asset Management GmbH lifted its holdings in Avnet, Inc. (NASDAQ:AVT) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 873,340 shares of the company’s stock after buying an additional 19,331 shares during the quarter. Allianz Asset Management GmbH’s holdings in Avnet were worth $45,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Greenhaven Associates Inc. lifted its stake in shares of Avnet by 1.0% in 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 last quarter. Pacer Advisors Inc. lifted its stake in shares of Avnet by 11,848.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after purchasing an additional 2,816,889 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Avnet by 204.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after purchasing an additional 463,660 shares during the last quarter. FMR LLC lifted its stake in shares of Avnet by 24.7% in the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after purchasing an additional 114,217 shares during the last quarter. Finally, Weiss Asset Management LP lifted its position in Avnet by 35.7% during the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after acquiring an additional 66,973 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Down 1.3 %

Avnet stock opened at $51.85 on Friday. The firm has a fifty day moving average price of $52.20 and a two-hundred day moving average price of $53.27. Avnet, Inc. has a fifty-two week low of $45.45 and a fifty-two week high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.15 and a beta of 1.13.

Avnet (NASDAQ:AVT) last posted 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 return on equity of 7.49% and a net margin of 1.41%. As a group, analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.55%. Avnet’s payout ratio is 37.39%.

Analyst Upgrades and Downgrades

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

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.