Russell Investments Group Ltd. Acquires 14,461 Shares of Avnet, Inc. $AVT

Russell Investments Group Ltd. raised its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 462,869 shares of the company’s stock after purchasing an additional 14,461 shares during the quarter. Russell Investments Group Ltd.’s holdings in Avnet were worth $24,182,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Avnet by 2.0% during the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock valued at $563,738,000 after purchasing an additional 214,290 shares during the last quarter. American Century Companies Inc. boosted its holdings in Avnet by 3.4% in the third quarter. American Century Companies Inc. now owns 3,751,726 shares of the company’s stock worth $196,140,000 after purchasing an additional 124,466 shares during the last quarter. LSV Asset Management grew its position in Avnet by 2.5% in the 2nd quarter. LSV Asset Management now owns 2,667,923 shares of the company’s stock worth $141,613,000 after purchasing an additional 66,191 shares during the period. AQR Capital Management LLC grew its position in Avnet by 25.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,680,538 shares of the company’s stock worth $88,312,000 after purchasing an additional 345,721 shares during the period. Finally, Norges Bank purchased a new stake in Avnet during the 2nd quarter valued at $51,495,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Trading Down 1.4%

Avnet stock opened at $60.24 on Friday. Avnet, Inc. has a 12-month low of $39.22 and a 12-month high of $68.29. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 0.45 and a beta of 0.91. The firm has a 50 day moving average of $59.25 and a 200 day moving average of $53.43. The company has a current ratio of 2.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.10. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.03 billion. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, research analysts predict that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.3%. Avnet’s payout ratio is 57.38%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 4th. Truist Financial upped their price objective on Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, January 29th. Wells Fargo & Company raised their target price on Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen upgraded Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $54.33.

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.