Brandywine Global Investment Management LLC Sells 12,456 Shares of Avnet, Inc. $AVT

Brandywine Global Investment Management LLC reduced its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 339,427 shares of the company’s stock after selling 12,456 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Avnet were worth $16,320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position in shares of Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. BOKF NA grew its position in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares during the last quarter. MAI Capital Management grew its position in shares of Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Avnet by 53.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after purchasing an additional 258 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 466 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction on 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 sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVT. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th. Weiss Ratings cut shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Wall Street Zen cut shares of Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Wells Fargo & Company boosted their price objective on shares of Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Finally, Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $66.00 to $96.00 in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Avnet Price Performance

AVT opened at $87.05 on Tuesday. The company has a fifty day moving average price of $77.95 and a two-hundred day moving average price of $63.47. 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 52 week low of $44.25 and a 52 week high of $95.26. The firm has a market capitalization of $7.14 billion, a PE ratio of 33.87, a P/E/G ratio of 0.39 and a beta of 1.08.

Avnet (NASDAQ:AVT) last released its earnings results 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 firm had revenue of $7.12 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, analysts anticipate that Avnet, Inc. will post 5.12 earnings per share for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. Avnet’s payout ratio is currently 54.47%.

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.