Grantham Mayo Van Otterloo & Co. LLC Has $7.63 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Grantham Mayo Van Otterloo & Co. LLC decreased its position in Avnet, Inc. (NASDAQ:AVT) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,746 shares of the company’s stock after selling 5,455 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Avnet were worth $7,625,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Securities Inc. lifted its stake in Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after acquiring an additional 211 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Avnet by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock valued at $246,000 after purchasing an additional 222 shares during the last quarter. World Investment Advisors raised its holdings in shares of Avnet by 3.7% in the fourth quarter. World Investment Advisors now owns 7,223 shares of the company’s stock valued at $378,000 after purchasing an additional 255 shares during the last quarter. Highland Capital Management LLC lifted its position in shares of Avnet by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock worth $222,000 after purchasing an additional 261 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock worth $114,000 after purchasing an additional 341 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVT. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial dropped their target price on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, January 30th.

Avnet Stock Performance

NASDAQ AVT opened at $42.26 on Monday. The firm has a market capitalization of $3.66 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average price is $49.57 and its two-hundred day moving average price is $52.35. Avnet, Inc. has a 1 year low of $40.93 and a 1 year high of $59.24. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.

Avnet (NASDAQ:AVT) last issued its earnings results 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%. As a group, research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

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

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.