1,149 Shares in Avery Dennison Co. (NYSE:AVY) Acquired by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC acquired a new position in Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,149 shares of the industrial products company’s stock, valued at approximately $215,000.

A number of other institutional investors have also bought and sold shares of AVY. Raymond James Financial Inc. bought a new position in Avery Dennison during the fourth quarter valued at about $51,521,000. Geode Capital Management LLC boosted its stake in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after buying an additional 157,754 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after purchasing an additional 134,560 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Avery Dennison by 411.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after buying an additional 99,232 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after purchasing an additional 88,491 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVY. Raymond James reaffirmed an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a report on Monday, February 3rd. Bank of America cut their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, UBS Group lowered their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $178.91 on Friday. Avery Dennison Co. has a one year low of $174.91 and a one year high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market cap of $14.13 billion, a PE ratio of 20.52, a PEG ratio of 2.07 and a beta of 0.85. The firm has a fifty day moving average of $185.49 and a 200 day moving average of $199.52.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.