Principal Financial Group Inc. Invests $428,000 in Strattec Security Corporation $STRT

Principal Financial Group Inc. bought a new position in Strattec Security Corporation (NASDAQ:STRT) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 6,283 shares of the auto parts company’s stock, valued at approximately $428,000. Principal Financial Group Inc. owned 0.15% of Strattec Security as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of STRT. Geode Capital Management LLC increased its position in Strattec Security by 110.2% in the second 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 in the last quarter. Invesco Ltd. bought a new position in shares of Strattec Security during the 2nd quarter valued at approximately $2,831,000. Pacer Advisors Inc. purchased a new stake in Strattec Security in the 3rd quarter worth approximately $2,891,000. Ameriprise Financial Inc. bought a new stake in Strattec Security during the 2nd quarter worth approximately $1,806,000. Finally, American Century Companies Inc. raised its stake in Strattec Security by 58.9% during the 2nd quarter. American Century Companies Inc. now owns 68,459 shares of the auto parts company’s stock worth $4,259,000 after acquiring an additional 25,371 shares during the period. Institutional investors own 68.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Freedom Capital cut shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Wall Street Zen lowered Strattec Security from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a report on Monday, December 29th. Finally, Zacks Research raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy”.

Strattec Security Trading Up 0.2%

NASDAQ:STRT opened at $90.33 on Friday. The business’s 50-day moving average is $81.95 and its 200 day moving average is $73.66. Strattec Security Corporation has a 12 month low of $31.57 and a 12 month high of $92.50. The company has a market capitalization of $377.58 million, a P/E ratio of 13.69, a P/E/G ratio of 1.44 and a beta of 1.19.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings data on Thursday, February 5th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.78. The business had revenue of $137.53 million for the quarter, compared to the consensus estimate of $132.29 million. Strattec Security had a return on equity of 12.33% and a net margin of 4.63%. On average, research analysts forecast that Strattec Security Corporation will post 3.67 earnings per share for the current year.

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.