Strattec Security (NASDAQ:STRT) Receives New Coverage from Analysts at StockNews.com

Posted by on Jun 8th, 2023

Equities researchers at StockNews.com initiated coverage on shares of Strattec Security (NASDAQ:STRT – Get Rating) in a report released on Thursday. The firm set a “hold” rating on the auto parts company’s stock.

Separately, TheStreet cut Strattec Security from a “c” rating to a “d+” rating in a report on Tuesday, May 2nd.

Strattec Security Stock Performance

Shares of NASDAQ STRT opened at $19.49 on Thursday. The firm’s fifty day moving average is $19.49 and its two-hundred day moving average is $21.18. Strattec Security has a 52-week low of $16.78 and a 52-week high of $35.74. The company has a market cap of $78.35 million, a P/E ratio of -21.42 and a beta of 1.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.44 and a current ratio of 2.17.

Hedge Funds Weigh In On Strattec Security

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gabelli Funds LLC raised its position in shares of Strattec Security by 1.8% during the 3rd quarter. Gabelli Funds LLC now owns 29,000 shares of the auto parts company’s stock valued at $603,000 after buying an additional 500 shares in the last quarter. Geode Capital Management LLC grew its position in Strattec Security by 1.9% in the first quarter. Geode Capital Management LLC now owns 33,941 shares of the auto parts company’s stock worth $772,000 after acquiring an additional 633 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Strattec Security by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 8,368 shares of the auto parts company’s stock worth $316,000 after acquiring an additional 667 shares during the last quarter. State Street Corp raised its position in Strattec Security by 6.4% during the first quarter. State Street Corp now owns 15,569 shares of the auto parts company’s stock valued at $580,000 after purchasing an additional 940 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Strattec Security by 6.2% in the 3rd quarter. Royal Bank of Canada now owns 17,230 shares of the auto parts company’s stock valued at $358,000 after purchasing an additional 1,000 shares during the last quarter. 65.07% of the stock is owned by hedge funds and other institutional investors.

Strattec Security Company Profile

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STRATTEC Security Corp. engages in the designing, development, manufacturing and marketing of automotive access control products. Its products include mechanical and electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side doors, power lift gates, power deck lids, and door handles.

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