Brandywine Global Investment Management LLC Has $11.66 Million Stake in Avnet (AVT)

Brandywine Global Investment Management LLC lifted its position in Avnet (NYSE:AVT) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 322,844 shares of the technology company’s stock after buying an additional 3,905 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Avnet were worth $11,655,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. increased its position in shares of Avnet by 3.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 8,405 shares of the technology company’s stock worth $303,000 after acquiring an additional 260 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Avnet by 3.7% during the third quarter. Neuberger Berman Group LLC now owns 8,508 shares of the technology company’s stock worth $381,000 after purchasing an additional 303 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Avnet by 1.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,695 shares of the technology company’s stock worth $782,000 after purchasing an additional 367 shares during the period. Investors Research Corp boosted its holdings in shares of Avnet by 2.1% during the fourth quarter. Investors Research Corp now owns 19,019 shares of the technology company’s stock worth $687,000 after purchasing an additional 400 shares during the period. Finally, Honeywell International Inc. boosted its holdings in shares of Avnet by 0.4% during the fourth quarter. Honeywell International Inc. now owns 201,100 shares of the technology company’s stock worth $7,260,000 after purchasing an additional 800 shares during the period. 96.44% of the stock is currently owned by institutional investors and hedge funds.

AVT stock opened at $43.83 on Tuesday. Avnet has a 52 week low of $33.55 and a 52 week high of $49.40.

Avnet (NYSE:AVT) last posted its quarterly earnings results on Thursday, January 24th. The technology company reported $1.04 EPS for the quarter, hitting the consensus estimate of $1.04. The company had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.07 billion. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, March 11th.

Separately, Zacks Investment Research cut shares of Avnet from a “hold” rating to a “sell” rating in a report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Avnet presently has a consensus rating of “Hold” and an average price target of $45.17.

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Avnet Company Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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