Strattec Security (NASDAQ:STRT) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Strattec Security Corporation (NASDAQ:STRT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $79.39 and traded as high as $85.82. Strattec Security shares last traded at $85.82, with a volume of 96,812 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on STRT shares. Freedom Capital upgraded shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research report on Wednesday, June 24th. Finally, Zacks Research raised shares of Strattec Security from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy”.

Strattec Security Price Performance

The company has a 50-day moving average price of $78.29 and a 200-day moving average price of $79.39. The firm has a market capitalization of $358.64 million, a PE ratio of 14.16, a P/E/G ratio of 1.75 and a beta of 1.18.

Strattec Security (NASDAQ:STRT) last posted its quarterly earnings data on Thursday, May 7th. The auto parts company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.24). The company had revenue of $137.63 million for the quarter, compared to analyst estimates of $140.35 million. Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. On average, research analysts predict that Strattec Security Corporation will post 6.12 earnings per share for the current fiscal year.

Strattec Security declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 28th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 12.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Strattec Security news, Director Frederic Jack Liebau, Jr. purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $61.37 per share, for a total transaction of $61,370.00. Following the acquisition, the director owned 7,748 shares of the company’s stock, valued at approximately $475,494.76. The trade was a 14.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer Lynn Slater purchased 801 shares of Strattec Security stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $62.46 per share, for a total transaction of $50,030.46. Following the purchase, the chief executive officer owned 57,924 shares in the company, valued at approximately $3,617,933.04. This trade represents a 1.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 4,598 shares of company stock worth $286,440. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Strattec Security

Several institutional investors have recently added to or reduced their stakes in STRT. Dimensional Fund Advisors LP lifted its holdings in shares of Strattec Security by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock worth $19,438,000 after acquiring an additional 8,542 shares during the period. Gabelli Funds LLC boosted its position in shares of Strattec Security by 41.7% in the first quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock worth $19,413,000 after acquiring an additional 72,900 shares during the last quarter. Vanguard Group Inc. grew its holdings in Strattec Security by 2.3% in the third quarter. Vanguard Group Inc. now owns 238,937 shares of the auto parts company’s stock valued at $16,262,000 after purchasing an additional 5,280 shares during the period. Millennium Management LLC grew its holdings in Strattec Security by 117.3% in the third quarter. Millennium Management LLC now owns 112,312 shares of the auto parts company’s stock valued at $7,644,000 after purchasing an additional 60,628 shares during the period. Finally, Geode Capital Management LLC increased its position in Strattec Security by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 97,246 shares of the auto parts company’s stock worth $7,406,000 after purchasing an additional 6,403 shares during the last quarter. 68.91% of the stock is currently owned by institutional investors and hedge funds.

Strattec Security Company Profile

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.