Crossmark Global Holdings Inc. Has $13.47 Million Stock Holdings in Avnet, Inc. $AVT

Crossmark Global Holdings Inc. trimmed its position in Avnet, Inc. (NASDAQ:AVT) by 3.3% during the third quarter, Holdings Channel reports. The institutional investor owned 257,718 shares of the company’s stock after selling 8,847 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Avnet were worth $13,474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. MAI Capital Management lifted its position in Avnet by 53.7% during the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares during the period. Quent Capital LLC acquired a new position in Avnet during the 3rd quarter valued at about $38,000. Winnow Wealth LLC bought a new position in shares of Avnet in the 3rd quarter valued at about $39,000. Finally, SJS Investment Consulting Inc. grew its position in shares of Avnet by 7,176.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 946 shares of the company’s stock worth $49,000 after buying an additional 933 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Down 1.4%

AVT opened at $62.43 on Friday. The firm’s fifty day moving average is $58.05 and its two-hundred day moving average is $53.19. The firm has a market cap of $5.11 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 0.47 and a beta of 0.91. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $68.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 2.07.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. Equities research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Avnet’s dividend payout ratio (DPR) is currently 57.38%.

Analysts Set New Price Targets

AVT has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on shares of Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a report on Thursday, January 29th. Weiss Ratings raised Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen upgraded Avnet from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Truist Financial lifted their price objective on Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $54.33.

About Avnet

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.