Strattec Security Corporation (NASDAQ:STRT – Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.94 and traded as high as $81.30. Strattec Security shares last traded at $79.48, with a volume of 117,569 shares.
Analysts Set New Price Targets
A number of research analysts recently weighed in on STRT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. Zacks Research cut Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Freedom Capital upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Finally, Wall Street Zen cut Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.
Get Our Latest Stock Report on Strattec Security
Strattec Security Trading Up 0.9%
Strattec Security (NASDAQ:STRT – Get Free Report) last released its earnings results on Thursday, May 7th. The auto parts company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.24). Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. The company had revenue of $137.63 million for the quarter, compared to analyst estimates of $140.35 million. As a group, research analysts expect that Strattec Security Corporation will post 6.12 EPS for the current fiscal year.
Strattec Security declared that its Board of Directors has initiated a share buyback program on Thursday, May 28th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Insider Transactions at Strattec Security
In other Strattec Security news, CEO Jennifer Lynn Slater purchased 801 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $62.46 per share, for a total transaction of $50,030.46. Following the completion of the acquisition, the chief executive officer owned 57,924 shares of the company’s stock, valued at $3,617,933.04. This represents a 1.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederic Jack Liebau, Jr. purchased 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $61.37 per share, for a total transaction of $61,370.00. Following the acquisition, the director directly owned 7,748 shares of the company’s stock, valued at $475,494.76. This represents a 14.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 4,598 shares of company stock valued at $286,440 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Institutional Trading of Strattec Security
Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings 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 worth $91,000 after buying an additional 1,280 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Strattec Security by 41.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,548 shares of the auto parts company’s stock worth $890,000 after buying an additional 6,624 shares during the period. Empowered Funds LLC boosted its holdings in shares of Strattec Security by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,221 shares of the auto parts company’s stock worth $680,000 after buying an additional 555 shares during the period. Jane Street Group LLC boosted its holdings in shares of Strattec Security by 61.1% during the 1st quarter. Jane Street Group LLC now owns 15,869 shares of the auto parts company’s stock worth $626,000 after buying an additional 6,019 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Strattec Security by 110.2% during the 2nd quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock worth $5,624,000 after buying an additional 47,389 shares during the period. 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.
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