Twin Capital Management Inc. Trims Holdings in Avnet, Inc. (NASDAQ:AVT)

Twin Capital Management Inc. reduced its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,665 shares of the company’s stock after selling 665 shares during the quarter. Twin Capital Management Inc.’s holdings in Avnet were worth $1,848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AVT. Natixis Advisors L.P. purchased a new position in shares of Avnet during the 1st quarter valued at approximately $448,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Avnet during the 1st quarter valued at approximately $1,019,000. MetLife Investment Management LLC boosted its stake in shares of Avnet by 33.1% during the 1st quarter. MetLife Investment Management LLC now owns 64,005 shares of the company’s stock valued at $2,598,000 after buying an additional 15,921 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Avnet by 10.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,269 shares of the company’s stock worth $1,472,000 after purchasing an additional 3,372 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Avnet by 9.8% during the first quarter. Great West Life Assurance Co. Can now owns 63,382 shares of the company’s stock worth $2,658,000 after purchasing an additional 5,646 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Trading Down 0.1 %

NASDAQ:AVT opened at $46.54 on Friday. The company has a quick ratio of 1.05, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. Avnet, Inc. has a 1-year low of $39.64 and a 1-year high of $51.65. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24. The stock has a fifty day simple moving average of $47.16 and a 200 day simple moving average of $47.35.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Avnet had a return on equity of 13.60% and a net margin of 2.62%. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the company posted $2.00 EPS. Sell-side analysts forecast that Avnet, Inc. will post 5.25 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Tuesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 17.13%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reduced their price objective on Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.50.

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.