Northwestern Mutual Investment Management Company LLC Has $837,000 Holdings in Avnet (NYSE:AVT)

Northwestern Mutual Investment Management Company LLC cut its stake in Avnet (NYSE:AVT) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,290 shares of the technology company’s stock after selling 1,735 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Avnet were worth $837,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc boosted its holdings in shares of Avnet by 2.8% in the 3rd quarter. Vanguard Group Inc now owns 11,420,607 shares of the technology company’s stock valued at $511,300,000 after purchasing an additional 315,288 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Avnet by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,012,383 shares of the technology company’s stock valued at $144,847,000 after acquiring an additional 22,153 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Avnet by 1.0% during the 1st quarter. LSV Asset Management now owns 2,215,168 shares of the technology company’s stock valued at $96,071,000 after acquiring an additional 20,900 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Avnet by 2,437.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,741,897 shares of the technology company’s stock valued at $48,000 after acquiring an additional 1,673,236 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Avnet by 28.9% during the 4th quarter. Prudential Financial Inc. now owns 1,639,635 shares of the technology company’s stock valued at $59,191,000 after acquiring an additional 367,914 shares in the last quarter. 96.44% of the stock is owned by institutional investors.

In other news, Director James A. Lawrence sold 187,495 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $47.48, for a total value of $8,902,262.60. Following the completion of the sale, the director now directly owns 616,392 shares of the company’s stock, valued at approximately $29,266,292.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James A. Lawrence sold 20,620 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $45.20, for a total transaction of $932,024.00. Following the completion of the sale, the director now owns 500,000 shares in the company, valued at $22,600,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,911 shares of company stock valued at $10,207,871. Company insiders own 1.65% of the company’s stock.

Shares of NYSE AVT traded up $0.48 during midday trading on Friday, hitting $45.27. The company’s stock had a trading volume of 766,871 shares, compared to its average volume of 695,038. The business has a fifty day simple moving average of $43.29. Avnet has a 1-year low of $33.55 and a 1-year high of $49.40.

Avnet (NYSE:AVT) last posted its earnings results on Thursday, April 25th. The technology company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.75 billion. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, June 4th.

AVT has been the topic of several analyst reports. Zacks Investment Research raised shares of Avnet from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Deutsche Bank assumed coverage on shares of Avnet in a research note on Tuesday, June 11th. They set a “hold” rating and a $44.00 price target on the stock. Citigroup set a $47.00 target price on shares of Avnet and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, TheStreet raised shares of Avnet from a “c+” rating to a “b-” rating in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Avnet presently has an average rating of “Hold” and a consensus target price of $47.80.

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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