Goldman Sachs Group Inc. Boosts Stock Position in Strattec Security Corporation $STRT

Key Points

• Goldman Sachs Group Inc. increased its stake in Strattec Security Corporation by 41.6% during the first quarter, owning a total of 22,548 shares valued at approximately $890,000.
• In recent insider trading activity, COO Rolando Guillot sold 22,890 shares, representing an 80.51% decrease in his holdings, obtaining over $1.5 million from the sale.
• Strattec Security reported strong quarterly earnings of $2.06 per share, significantly surpassing analysts' expectations, with revenues totaling $152.01 million for the quarter.

Goldman Sachs Group Inc. lifted its position in shares of Strattec Security Corporation (NASDAQ:STRT - Free Report) by 41.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,548 shares of the auto parts company's stock after purchasing an additional 6,624 shares during the period. Goldman Sachs Group Inc. owned 0.54% of Strattec Security worth $890,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of STRT. Russell Investments Group Ltd. purchased a new stake in shares of Strattec Security during the first quarter worth about $91,000. Bank of America Corp DE boosted its holdings in shares of 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 purchasing an additional 1,280 shares during the period. Walleye Capital LLC purchased a new stake in Strattec Security in the first quarter worth about $245,000. Dynamic Technology Lab Private Ltd purchased a new stake in Strattec Security in the first quarter worth about $292,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Strattec Security by 163.2% in the first quarter. Cubist Systematic Strategies LLC now owns 9,308 shares of the auto parts company's stock worth $367,000 after buying an additional 5,771 shares during the period. 68.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Strattec Security Price Performance

Shares of STRT opened at $68.45 on Tuesday. The company has a market capitalization of $284.75 million, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. The company has a quick ratio of 1.89, a current ratio of 2.43 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $67.31 and a 200 day moving average of $54.56. Strattec Security Corporation has a twelve month low of $31.57 and a twelve month high of $83.00.

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

Analysts Set New Price Targets

Several brokerages have commented on STRT. Zacks Research lowered shares of Strattec Security from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Wall Street Zen raised shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

Strattec Security Profile

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.

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