BRYN MAWR TRUST Co Has $2.75 Million Stake in Avnet, Inc. (AVT)

BRYN MAWR TRUST Co lifted its position in Avnet, Inc. (NYSE:AVT) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,733 shares of the technology company’s stock after purchasing an additional 1,570 shares during the period. BRYN MAWR TRUST Co owned about 0.06% of Avnet worth $2,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVT. DekaBank Deutsche Girozentrale boosted its position in shares of Avnet by 88.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 10,952 shares of the technology company’s stock worth $517,000 after acquiring an additional 5,152 shares during the last quarter. Henderson Group PLC boosted its position in shares of Avnet by 4.2% during the first quarter. Henderson Group PLC now owns 22,570 shares of the technology company’s stock worth $1,033,000 after acquiring an additional 900 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Avnet by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 1,635,931 shares of the technology company’s stock worth $74,861,000 after acquiring an additional 71,960 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Avnet by 2.5% during the first quarter. Pictet Asset Management Ltd. now owns 44,400 shares of the technology company’s stock worth $2,032,000 after acquiring an additional 1,100 shares during the last quarter. Finally, World Asset Management Inc boosted its position in shares of Avnet by 2.2% during the first quarter. World Asset Management Inc now owns 10,593 shares of the technology company’s stock worth $485,000 after acquiring an additional 228 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Shares of Avnet, Inc. (NYSE:AVT) traded up 0.39% during midday trading on Tuesday, hitting $39.03. 78,112 shares of the stock traded hands. Avnet, Inc. has a 12-month low of $35.67 and a 12-month high of $51.50. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 9.55 and a beta of 1.03. The company’s 50 day moving average price is $37.59 and its 200-day moving average price is $39.90.

Avnet (NYSE:AVT) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Avnet had a net margin of 3.00% and a return on equity of 8.87%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. On average, equities research analysts expect that Avnet, Inc. will post $3.26 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. Avnet’s payout ratio is 17.69%.

In other news, Director J Veronica Biggins sold 10,600 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $37.10, for a total transaction of $393,260.00. Following the transaction, the director now owns 12,191 shares of the company’s stock, valued at approximately $452,286.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.47% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://www.chaffeybreeze.com/2017/09/19/bryn-mawr-trust-co-has-2-75-million-stake-in-avnet-inc-avt.html.

A number of equities analysts recently weighed in on AVT shares. ValuEngine lowered shares of Avnet from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Avnet from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Avnet from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Bank of America Corporation lowered shares of Avnet from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $44.00 to $40.00 in a research report on Friday, July 14th. Finally, Deutsche Bank AG restated a “hold” rating and set a $39.00 target price (down previously from $40.00) on shares of Avnet in a research report on Thursday, August 10th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company. Avnet currently has a consensus rating of “Hold” and an average price target of $42.11.

Avnet 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.

Want to see what other hedge funds are holding AVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avnet, Inc. (NYSE:AVT).

Institutional Ownership by Quarter for Avnet (NYSE:AVT)

Receive News & Ratings for Avnet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply