Crossmark Global Holdings Inc. Boosts Holdings in Avnet, Inc. (NASDAQ:AVT)

Crossmark Global Holdings Inc. grew its position in Avnet, Inc. (NASDAQ:AVT - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,155 shares of the company's stock after buying an additional 12,103 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.27% of Avnet worth $11,309,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC boosted its position in Avnet by 12.9% during the first quarter. Hexagon Capital Partners LLC now owns 1,822 shares of the company's stock valued at $88,000 after purchasing an additional 208 shares during the last quarter. TD Private Client Wealth LLC grew its position in Avnet by 43.0% in the first quarter. TD Private Client Wealth LLC now owns 818 shares of the company's stock worth $39,000 after acquiring an additional 246 shares in the last quarter. World Investment Advisors increased its stake in shares of Avnet by 3.7% during the 4th quarter. World Investment Advisors now owns 7,223 shares of the company's stock worth $378,000 after purchasing an additional 255 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Avnet by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 15,195 shares of the company's stock valued at $731,000 after purchasing an additional 279 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Avnet by 30.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company's stock valued at $76,000 after purchasing an additional 340 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Avnet

In related news, VP Elizabeth Mcmullen sold 4,000 shares of Avnet stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total value of $211,200.00. Following the transaction, the vice president directly owned 14,626 shares of the company's stock, valued at $772,252.80. The trade was a 21.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVT. Truist Financial decreased their target price on shares of Avnet from $52.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st.

Avnet Stock Up 2.0%

AVT traded up $1.12 during trading on Tuesday, hitting $56.26. 920,101 shares of the company's stock were exchanged, compared to its average volume of 750,676. The company has a quick ratio of 1.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $51.36 and its two-hundred day moving average is $50.41. Avnet, Inc. has a fifty-two week low of $39.22 and a fifty-two week high of $59.24. The stock has a market cap of $4.72 billion, a P/E ratio of 15.76, a PEG ratio of 1.23 and a beta of 1.03.

Avnet (NASDAQ:AVT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.12. Avnet had a net margin of 1.43% and a return on equity of 6.96%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter last year, the business earned $1.10 earnings per share. The company's quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, June 4th. Avnet's dividend payout ratio (DPR) is presently 36.97%.

Avnet Company 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.