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

Harbor Capital Advisors Inc. lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 227.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 214,007 shares of the company’s stock after purchasing an additional 148,588 shares during the period. Harbor Capital Advisors Inc.’s holdings in Avnet were worth $11,197,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AVT. Capital Performance Advisors LLP acquired a new position in shares of Avnet in the 3rd quarter worth approximately $51,000. GAMMA Investing LLC raised its stake in Avnet by 20.2% during the third quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock worth $100,000 after buying an additional 309 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Avnet by 442.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock valued at $200,000 after buying an additional 3,015 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in Avnet during the third quarter valued at $209,000. Finally, Blue Trust Inc. grew its holdings in Avnet by 29.3% during the 3rd quarter. Blue Trust Inc. now owns 3,874 shares of the company’s stock worth $199,000 after acquiring an additional 879 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Down 1.1 %

Shares of AVT stock traded down $0.55 during mid-day trading on Friday, hitting $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 market cap of $4.45 billion, a PE ratio of 13.41, a P/E/G ratio of 1.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. The company’s fifty day simple moving average is $53.81 and its 200-day simple moving average is $53.30. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. As a group, equities research analysts expect that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Announces Dividend

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

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.