Principal Financial Group Inc. Boosts Stock Position in Avnet, Inc. $AVT

Principal Financial Group Inc. raised its position in Avnet, Inc. (NASDAQ:AVT) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,707 shares of the company’s stock after purchasing an additional 7,776 shares during the period. Principal Financial Group Inc. owned about 0.22% of Avnet worth $11,258,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AVT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Avnet by 0.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company’s stock valued at $1,264,000 after buying an additional 159 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in Avnet by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company’s stock worth $671,000 after acquiring an additional 176 shares during the period. Quadrant Capital Group LLC raised its holdings in Avnet by 2.1% in the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock valued at $422,000 after acquiring an additional 184 shares during the last quarter. Summit Securities Group LLC raised its holdings in Avnet by 32.1% in the 1st quarter. Summit Securities Group LLC now owns 765 shares of the company’s stock valued at $47,000 after acquiring an additional 186 shares during the last quarter. Finally, World Investment Advisors lifted its stake in shares of Avnet by 2.3% during the 4th quarter. World Investment Advisors now owns 9,873 shares of the company’s stock worth $471,000 after purchasing an additional 219 shares during the period. 95.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the sale, the chief executive officer owned 145,003 shares in the company, valued at approximately $12,023,648.76. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AVT. Zacks Research cut Avnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Wells Fargo & Company upped their target price on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Weiss Ratings raised Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 price objective on shares of Avnet in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Avnet has an average rating of “Moderate Buy” and an average price target of $89.50.

Avnet Stock Down 0.6%

Shares of NASDAQ AVT opened at $89.42 on Friday. Avnet, Inc. has a 52-week low of $44.25 and a 52-week high of $95.26. The firm has a fifty day moving average of $87.31 and a 200-day moving average of $72.65. The stock has a market capitalization of $7.33 billion, a PE ratio of 34.79, a P/E/G ratio of 0.28 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Avnet (NASDAQ:AVT) last released 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. The business had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The business’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, analysts anticipate that Avnet, Inc. will post 5.12 EPS for the current year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is 54.47%.

Avnet 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.