Deutsche Bank AG raised its position in Avnet (NYSE:AVT) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,202,803 shares of the technology company’s stock after buying an additional 267,755 shares during the period. Deutsche Bank AG owned 1.00% of Avnet worth $47,653,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of AVT. New York State Common Retirement Fund increased its stake in Avnet by 1.4% in the 3rd quarter. New York State Common Retirement Fund now owns 831,670 shares of the technology company’s stock valued at $32,685,000 after buying an additional 11,180 shares during the last quarter. Toronto Dominion Bank increased its stake in Avnet by 233.3% in the 3rd quarter. Toronto Dominion Bank now owns 5,279 shares of the technology company’s stock valued at $207,000 after buying an additional 3,695 shares during the last quarter. Advisor Group Inc. increased its stake in Avnet by 48.1% in the 3rd quarter. Advisor Group Inc. now owns 12,160 shares of the technology company’s stock valued at $478,000 after buying an additional 3,952 shares during the last quarter. Comerica Bank increased its stake in Avnet by 1.2% in the 3rd quarter. Comerica Bank now owns 323,588 shares of the technology company’s stock valued at $12,846,000 after buying an additional 3,741 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Avnet in the 3rd quarter valued at about $634,000. Hedge funds and other institutional investors own 96.44% of the company’s stock.
In related news, insider Philip R. Gallagher sold 14,292 shares of Avnet stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $42.00, for a total value of $600,264.00. Following the completion of the transaction, the insider now directly owns 22,178 shares in the company, valued at approximately $931,476. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin V. Summers sold 1,511 shares of Avnet stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $40.67, for a total transaction of $61,452.37. Following the completion of the transaction, the insider now owns 5,354 shares of the company’s stock, valued at $217,747.18. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by insiders.
AVT has been the subject of several analyst reports. Zacks Investment Research lowered shares of Avnet from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Goldman Sachs upgraded shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price target for the company in a research note on Friday, January 5th. Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Finally, Pivotal Research began coverage on shares of Avnet in a research note on Tuesday, February 13th. They set a “hold” rating and a $44.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $40.13.
Shares of AVT stock traded down $1.32 during trading hours on Friday, hitting $40.34. 531,632 shares of the company were exchanged, compared to its average volume of 631,012. The company has a quick ratio of 1.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.28. Avnet has a 52-week low of $35.67 and a 52-week high of $45.09. The firm has a market cap of $4,996.92, a P/E ratio of 12.45, a PEG ratio of 1.33 and a beta of 0.96.
Avnet (NYSE:AVT) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Avnet had a net margin of 2.51% and a return on equity of 7.87%. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business posted $0.77 EPS. Avnet’s quarterly revenue was up 5.8% compared to the same quarter last year. equities analysts expect that Avnet will post 3.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Avnet’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 12th. Avnet’s payout ratio is currently 23.46%.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/07/avnet-inc-avt-shares-bought-by-deutsche-bank-ag.html.
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.
Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.