Franklin Resources Inc. Has $2.90 Million Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Franklin Resources Inc. raised its stake in Avnet, Inc. (NASDAQ:AVT) by 17.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,290 shares of the company’s stock after buying an additional 7,619 shares during the period. Franklin Resources Inc. owned 0.06% of Avnet worth $2,895,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Synovus Financial Corp boosted its holdings in shares of Avnet by 9.8% during the 3rd quarter. Synovus Financial Corp now owns 9,460 shares of the company’s stock valued at $514,000 after acquiring an additional 843 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Avnet by 9.0% during the third quarter. Tidal Investments LLC now owns 13,547 shares of the company’s stock valued at $736,000 after purchasing an additional 1,118 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Avnet during the third quarter worth about $378,000. TCW Group Inc. increased its stake in shares of Avnet by 0.9% in the third quarter. TCW Group Inc. now owns 59,145 shares of the company’s stock valued at $3,212,000 after buying an additional 534 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in Avnet by 5.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock valued at $246,000 after buying an additional 222 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 1.5 %

NASDAQ:AVT opened at $53.53 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. Avnet, Inc. has a one year low of $43.62 and a one year high of $59.24. The firm’s 50 day simple moving average is $54.32 and its 200 day simple moving average is $53.36. The company has a market cap of $4.65 billion, a PE ratio of 14.01, a P/E/G ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates 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%. Avnet’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. On average, research analysts anticipate that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Wednesday, December 4th. Avnet’s dividend payout ratio is currently 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.