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

Strattec Security Corporation (NASDAQ:STRT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $70.74 and traded as high as $82.05. Strattec Security shares last traded at $79.58, with a volume of 29,055 shares changing hands.

Analysts Set New Price Targets

STRT has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research report on Monday, December 29th. Zacks Research downgraded Strattec Security from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Strattec Security has an average rating of “Moderate Buy”.

Strattec Security Stock Down 3.5%

The firm’s 50 day moving average is $77.52 and its 200-day moving average is $70.74. The firm has a market cap of $333.44 million, a PE ratio of 13.91, a P/E/G ratio of 1.57 and a beta of 1.17.

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, beating the consensus estimate of $1.48 by $0.74. Strattec Security had a return on equity of 10.94% and a net margin of 4.06%.The company had revenue of $152.40 million during the quarter, compared to the consensus estimate of $144.87 million. On average, analysts forecast that Strattec Security Corporation will post 3.67 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Richard P. Messina sold 3,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.35, for a total value of $199,050.00. Following the completion of the transaction, the vice president directly owned 11,624 shares in the company, valued at approximately $771,252.40. This represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Trading of Strattec Security

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in shares of Strattec Security by 3.8% during the 3rd quarter. NewEdge Advisors LLC now owns 5,652 shares of the auto parts company’s stock valued at $385,000 after acquiring an additional 207 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Strattec Security in the second quarter worth approximately $25,000. Empowered Funds LLC grew its holdings in Strattec Security by 3.3% in the first quarter. Empowered Funds LLC now owns 17,221 shares of the auto parts company’s stock valued at $680,000 after purchasing an additional 555 shares during the period. State of Alaska Department of Revenue acquired a new position in Strattec Security during the fourth quarter worth approximately $58,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Strattec Security by 10.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 8,180 shares of the auto parts company’s stock worth $509,000 after purchasing an additional 787 shares during the last quarter. Hedge funds and other 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.