New York State Teachers Retirement System Sells 10,215 Shares of Avnet, Inc. $AVT

New York State Teachers Retirement System lowered its position in Avnet, Inc. (NASDAQ:AVT) by 10.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 84,259 shares of the company’s stock after selling 10,215 shares during the period. New York State Teachers Retirement System’s holdings in Avnet were worth $4,051,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its position in shares of Avnet by 132.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. BOKF NA increased its holdings in Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after purchasing an additional 536 shares in the last quarter. MAI Capital Management increased its holdings in Avnet by 53.7% during the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after purchasing an additional 235 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Avnet by 53.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock worth $35,000 after purchasing an additional 258 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Avnet by 199.1% during the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Insider Activity at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the transaction, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. This represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Avnet Price Performance

AVT stock opened at $80.86 on Friday. The stock has a 50-day moving average price of $67.26 and a two-hundred day moving average price of $57.65. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $84.75. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $6.63 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 0.61 and a beta of 1.09.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The company had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the prior year, the business posted $0.84 EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities analysts forecast that Avnet, Inc. will post 4.92 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, March 4th. Avnet’s dividend payout ratio is currently 54.47%.

Analyst Ratings Changes

A number of research firms have issued reports on AVT. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their target price on Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Finally, Truist Financial increased their target price on Avnet to $95.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.50.

Avnet Company Profile

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.