Crossmark Global Holdings Inc. Lowers Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Crossmark Global Holdings Inc. cut its holdings in Avnet, Inc. (NASDAQ:AVT) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 223,052 shares of the company’s stock after selling 615 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Avnet were worth $11,670,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in Avnet during the 3rd quarter worth about $51,000. GAMMA Investing LLC increased its holdings in Avnet by 20.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock worth $100,000 after purchasing an additional 309 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Avnet by 442.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock valued at $200,000 after acquiring an additional 3,015 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Avnet in the third quarter worth approximately $209,000. Finally, Blue Trust Inc. grew its stake in shares of Avnet by 29.3% during the third quarter. Blue Trust Inc. now owns 3,874 shares of the company’s stock worth $199,000 after purchasing an additional 879 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Stock Performance

NASDAQ:AVT opened at $53.56 on Tuesday. The business’s fifty day moving average price is $53.36 and its 200 day moving average price is $53.39. The firm has a market capitalization of $4.66 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.14. Avnet, Inc. has a 12 month low of $43.62 and a 12 month high of $59.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the business earned $1.61 EPS. Avnet’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Avnet, Inc. will post 4.07 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, December 4th. Avnet’s dividend payout ratio is presently 34.56%.

Avnet Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.