Strattec Security (NASDAQ:STRT) Stock Crosses Above 200 Day Moving Average – Here’s Why

Strattec Security Corporation (NASDAQ:STRT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $67.92 and traded as high as $81.93. Strattec Security shares last traded at $80.17, with a volume of 34,426 shares trading hands.

Analyst Ratings Changes

STRT has been the subject of several research reports. Wall Street Zen raised shares of Strattec Security from a “buy” rating to a “strong-buy” rating in a report on Monday, September 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a research note on Monday. Finally, Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Strattec Security Price Performance

The company has a market capitalization of $335.91 million, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. The firm’s 50-day moving average is $71.71 and its 200-day moving average is $67.92.

Strattec Security (NASDAQ:STRT) last issued its quarterly earnings results on Thursday, October 30th. The auto parts company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.74. Strattec Security had a net margin of 4.06% and a return on equity of 10.94%. The business had revenue of $152.40 million for the quarter, compared to analysts’ expectations of $144.87 million. As a group, analysts forecast that Strattec Security Corporation will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Richard P. Messina sold 3,000 shares of Strattec Security stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.35, for a total transaction of $199,050.00. Following the transaction, the vice president directly owned 11,624 shares in the company, valued at approximately $771,252.40. The trade was a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of Strattec Security by 137.9% during the 4th quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock valued at $91,000 after buying an additional 1,280 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Strattec Security during the 1st quarter worth approximately $91,000. American Century Companies Inc. lifted its holdings in Strattec Security by 217.1% during the first quarter. American Century Companies Inc. now owns 43,088 shares of the auto parts company’s stock valued at $1,700,000 after purchasing an additional 29,498 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Strattec Security in the first quarter worth approximately $245,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Strattec Security in the first quarter worth $430,000. Institutional investors own 68.91% of the company’s stock.

About Strattec Security

Strattec Security Corporation is a Wisconsin‐based designer and manufacturer of mechanical and electronic locking systems for the global automotive market. Established more than five decades ago, the company supplies original equipment manufacturers (OEMs) and the aftermarket with a broad portfolio of lock and key solutions tailored to passenger cars, light trucks and commercial vehicles.

The company’s product range includes mechanical locking systems such as door lock cylinders, ignition lock modules, key blanks and door handles, as well as electromechanical and keyless‐entry systems.