Avnet, Inc. $AVT Stock: Tectonic Advisors LLC Grows Stake

Tectonic Advisors LLC grew its stake in Avnet, Inc. (NASDAQ:AVT) by 40.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,565 shares of the company’s stock after acquiring an additional 6,204 shares during the quarter. Tectonic Advisors LLC’s holdings in Avnet were worth $2,155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC grew its holdings in Avnet by 1.9% during the first quarter. Empowered Funds LLC now owns 6,833 shares of the company’s stock valued at $421,000 after purchasing an additional 129 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Avnet by 0.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company’s stock worth $1,264,000 after purchasing an additional 159 shares during the period. Elevation Wealth Partners LLC raised its holdings in Avnet by 38.5% in the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock worth $59,000 after purchasing an additional 185 shares during the period. Summit Securities Group LLC raised its holdings in Avnet by 32.1% in the first quarter. Summit Securities Group LLC now owns 765 shares of the company’s stock worth $47,000 after purchasing an additional 186 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Avnet by 3.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,163 shares of the company’s stock worth $318,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Insider Transactions at Avnet

In other Avnet news, CEO Philip Gallagher sold 51,900 shares of Avnet stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the sale, the chief executive officer owned 168,923 shares of the company’s stock, valued at $16,632,158.58. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total value of $2,919,937.20. Following the completion of the sale, the senior vice president owned 76,674 shares in the company, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AVT has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of Avnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Zacks Research downgraded Avnet from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Truist Financial raised their price objective on Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Avnet has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Avnet Stock Down 0.6%

AVT traded down $0.56 during trading on Friday, reaching $88.08. The company had a trading volume of 1,723,283 shares, compared to its average volume of 1,293,013. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. Avnet, Inc. has a 12 month low of $44.25 and a 12 month high of $108.63. The business’s fifty day moving average price is $94.84 and its 200 day moving average price is $88.37. The company has a market cap of $7.24 billion, a P/E ratio of 22.08, a PEG ratio of 0.27 and a beta of 1.06.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.48. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The company had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Equities analysts anticipate that Avnet, Inc. will post 10.45 EPS for the current year.

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, September 9th. This is a boost from Avnet’s previous quarterly dividend of $0.35. Avnet’s dividend payout ratio (DPR) is currently 37.09%.

Avnet Profile

Avnet, Inc is a global technology distributor that helps manufacturers and design engineers source electronic components and develop products. The company supplies semiconductors, embedded processors, memory, connectivity products, sensors, power-management components and other electronic parts used in industrial, automotive, communications, computing, aerospace and defense applications.

In addition to component distribution, Avnet provides engineering and design services, supply-chain management, product customization, logistics, and technical support.