TCW Group Inc. Increases Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

TCW Group Inc. increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 3.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 61,094 shares of the company’s stock after acquiring an additional 1,949 shares during the period. TCW Group Inc. owned approximately 0.07% of Avnet worth $3,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Avnet by 24.7% during the third 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 period. Harbor Capital Advisors Inc. increased its stake in Avnet by 227.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock worth $11,197,000 after buying an additional 148,588 shares during the period. Weiss Asset Management LP lifted its holdings in Avnet by 35.7% in the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after buying an additional 66,973 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Avnet by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock valued at $13,213,000 after buying an additional 28,453 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Avnet by 22.6% during the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock valued at $312,000 after acquiring an additional 1,101 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Truist Financial cut their price target on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Price Performance

AVT opened at $51.85 on Monday. The company has a market capitalization of $4.49 billion, a P/E ratio of 14.69, a PEG ratio of 1.15 and a beta of 1.13. The company has a 50-day moving average of $52.20 and a 200-day moving average of $53.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 1-year low of $45.45 and a 1-year high of $59.24.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share 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%. Equities analysts expect that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio is currently 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.