Gabelli Funds LLC Has $9.40 Million Stock Position in Strattec Security Corporation $STRT

Gabelli Funds LLC lifted its position in Strattec Security Corporation (NASDAQ:STRT) by 342.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 138,100 shares of the auto parts company’s stock after buying an additional 106,900 shares during the quarter. Gabelli Funds LLC’s holdings in Strattec Security were worth $9,399,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in STRT. Vanguard Group Inc. boosted its stake in Strattec Security by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 238,937 shares of the auto parts company’s stock worth $16,262,000 after purchasing an additional 5,280 shares during the period. Acadian Asset Management LLC raised its stake in Strattec Security by 27.5% during the 2nd quarter. Acadian Asset Management LLC now owns 99,522 shares of the auto parts company’s stock valued at $6,186,000 after purchasing an additional 21,475 shares during the period. Geode Capital Management LLC raised its stake in Strattec Security by 110.2% during the 2nd quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock valued at $5,624,000 after purchasing an additional 47,389 shares during the period. American Century Companies Inc. lifted its holdings in shares of Strattec Security by 58.9% in the second quarter. American Century Companies Inc. now owns 68,459 shares of the auto parts company’s stock valued at $4,259,000 after purchasing an additional 25,371 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Strattec Security by 36.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 58,631 shares of the auto parts company’s stock valued at $3,990,000 after purchasing an additional 15,509 shares in the last quarter. Institutional investors and hedge funds own 68.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STRT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a research report on Monday, December 29th. Freedom Capital downgraded Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Zacks Research upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised Strattec Security from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Strattec Security Stock Down 2.3%

Shares of NASDAQ:STRT opened at $80.45 on Monday. The firm has a fifty day moving average of $83.40 and a two-hundred day moving average of $74.90. The firm has a market capitalization of $336.28 million, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18. Strattec Security Corporation has a 12-month low of $31.57 and a 12-month high of $92.50.

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