Strattec Security (NASDAQ:STRT) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Strattec Security (NASDAQ:STRT) from a buy rating to a hold rating in a report issued on Wednesday morning.

Strattec Security Trading Up 2.6 %

STRT opened at $37.98 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 1.46. The stock has a market capitalization of $155.72 million, a price-to-earnings ratio of 9.64, a PEG ratio of 1.87 and a beta of 1.14. The business has a fifty day moving average price of $37.75 and a 200 day moving average price of $30.59. Strattec Security has a 12 month low of $20.87 and a 12 month high of $43.15.

Strattec Security (NASDAQ:STRT) last released its earnings results on Monday, November 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.36. Strattec Security had a net margin of 2.93% and a return on equity of 7.17%. The firm had revenue of $139.05 million for the quarter, compared to analyst estimates of $139.32 million. During the same period in the prior year, the firm earned $1.05 earnings per share. Sell-side analysts expect that Strattec Security will post 1.98 earnings per share for the current fiscal year.

Insider Transactions at Strattec Security

In related news, VP Richard P. Messina sold 1,270 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $38.78, for a total value of $49,250.60. Following the transaction, the vice president now owns 11,930 shares of the company’s stock, valued at $462,645.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 2,070 shares of company stock valued at $74,033. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Strattec Security

Several hedge funds have recently added to or reduced their stakes in STRT. Essex Investment Management Co. LLC acquired a new position in shares of Strattec Security in the 3rd quarter valued at $266,000. Perritt Capital Management Inc boosted its stake in Strattec Security by 47.0% in the second quarter. Perritt Capital Management Inc now owns 10,102 shares of the auto parts company’s stock valued at $253,000 after acquiring an additional 3,229 shares in the last quarter. Marquette Asset Management LLC grew its holdings in shares of Strattec Security by 96.4% during the third quarter. Marquette Asset Management LLC now owns 11,332 shares of the auto parts company’s stock worth $483,000 after purchasing an additional 5,563 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Strattec Security during the third quarter worth about $1,071,000. Finally, Gabelli Funds LLC increased its position in shares of Strattec Security by 9.2% during the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock worth $873,000 after purchasing an additional 3,100 shares in the last quarter. 68.91% of the stock is currently owned by hedge funds and other institutional investors.

About Strattec Security

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.