Baird Financial Group Inc. Raises Holdings in Strattec Security Corporation $STRT

Key Points

• Baird Financial Group Inc. increased its stake in Strattec Security Corporation by 45.9% in the 1st quarter, owning a total of 14,298 shares valued at approximately $564,000.
• Strattec Security reported strong quarterly earnings, with $2.06 EPS that exceeded analysts’ expectations of $1.07, alongside a revenue of $152.01 million.
• Despite enhanced performance, Strattec Security has received mixed ratings from analysts, with one recent upgrade to a "strong-buy" and others downgrading to "strong sell."

Baird Financial Group Inc. increased its position in Strattec Security Corporation (NASDAQ:STRT - Free Report) by 45.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,298 shares of the auto parts company's stock after acquiring an additional 4,498 shares during the quarter. Baird Financial Group Inc. owned about 0.34% of Strattec Security worth $564,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in shares of Strattec Security in the fourth quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Strattec Security by 57.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,715 shares of the auto parts company's stock valued at $71,000 after purchasing an additional 623 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Strattec Security in the first quarter worth $91,000. Bank of America Corp DE boosted its stake in Strattec Security by 137.9% during the fourth 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. Finally, Schonfeld Strategic Advisors LLC bought a new position in Strattec Security during the fourth quarter valued at $238,000. 68.91% of the stock is owned by hedge funds and other institutional investors.

Strattec Security Trading Down 2.6%

Shares of NASDAQ:STRT traded down $1.80 during trading on Tuesday, reaching $68.57. 50,522 shares of the company were exchanged, compared to its average volume of 81,879. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.43 and a quick ratio of 1.89. The firm has a market capitalization of $285.25 million, a PE ratio of 15.00, a P/E/G ratio of 1.66 and a beta of 1.37. The business's fifty day simple moving average is $66.87 and its 200-day simple moving average is $53.83. Strattec Security Corporation has a 12-month low of $31.57 and a 12-month high of $83.00.

Strattec Security (NASDAQ:STRT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The auto parts company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.99. The company had revenue of $152.01 million for the quarter, compared to analysts' expectations of $143.51 million. Strattec Security had a return on equity of 8.95% and a net margin of 3.31%. On average, research analysts anticipate that Strattec Security Corporation will post 3.67 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a report on Monday, September 1st. Zacks Research downgraded shares of Strattec Security from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Insider Activity at Strattec Security

In other news, COO Rolando Guillot sold 22,890 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $65.86, for a total transaction of $1,507,535.40. Following the transaction, the chief operating officer owned 5,541 shares in the company, valued at approximately $364,930.26. This trade represents a 80.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.90% of the company's stock.

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.