State of New Jersey Common Pension Fund D Increases Stake in Avnet, Inc. $AVT

State of New Jersey Common Pension Fund D lifted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,739 shares of the company’s stock after acquiring an additional 7,469 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Avnet were worth $2,295,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AVT. Royal Bank of Canada lifted its holdings in shares of Avnet by 3.0% during the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock worth $3,447,000 after acquiring an additional 2,101 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Avnet by 16.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after acquiring an additional 31,919 shares during the period. United Services Automobile Association purchased a new position in shares of Avnet during the 1st quarter worth about $267,000. Empowered Funds LLC lifted its holdings in shares of Avnet by 9.3% during the 1st quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock worth $392,000 after acquiring an additional 696 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Avnet by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock worth $17,012,000 after acquiring an additional 16,443 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Stock Up 1.5%

AVT opened at $82.09 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $84.75. The firm has a 50 day moving average price of $67.26 and a 200 day moving average price of $57.65. The company has a market cap of $6.73 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 0.59 and a beta of 1.09.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the company earned $0.84 earnings per share. Avnet’s revenue for the quarter was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts expect that Avnet, Inc. will post 4.92 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.40 annualized dividend and a yield of 1.7%. Avnet’s dividend payout ratio (DPR) is 54.47%.

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AVT shares. Truist Financial increased their target price on shares of Avnet to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings downgraded shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.50.

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.