Harbor Capital Advisors Inc. Buys 148,588 Shares of Avnet, Inc. (NASDAQ:AVT)

Harbor Capital Advisors Inc. boosted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 227.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,007 shares of the company’s stock after acquiring an additional 148,588 shares during the period. Harbor Capital Advisors Inc. owned 0.25% of Avnet worth $11,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVT. Natixis Advisors LLC boosted its position in shares of Avnet by 8.5% during the 2nd quarter. Natixis Advisors LLC now owns 12,941 shares of the company’s stock worth $666,000 after acquiring an additional 1,014 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Avnet by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 25,298 shares of the company’s stock valued at $1,303,000 after purchasing an additional 431 shares during the last quarter. Choreo LLC acquired a new position in shares of Avnet during the 2nd quarter worth $417,000. American Century Companies Inc. lifted its position in shares of Avnet by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 2,690,326 shares of the company’s stock worth $138,525,000 after buying an additional 42,249 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Avnet by 46.8% in the second quarter. Federated Hermes Inc. now owns 40,231 shares of the company’s stock valued at $2,071,000 after buying an additional 12,832 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Price Performance

Avnet stock traded down $0.55 during midday trading on Friday, reaching $51.22. The company’s stock had a trading volume of 99,110 shares, compared to its average volume of 465,617. The company has a current ratio of 2.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.48. The stock has a market cap of $4.45 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The business has a 50-day moving average price of $53.81 and a 200-day moving average price of $53.30.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.06. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 EPS. On average, sell-side analysts predict that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Wednesday, December 4th. Avnet’s payout ratio is 34.55%.

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.