Commerce Bank Increases Position in Oshkosh Co. (NYSE:OSK)

Commerce Bank increased its position in shares of Oshkosh Co. (NYSE:OSK) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,757 shares of the company’s stock after purchasing an additional 369 shares during the period. Commerce Bank’s holdings in Oshkosh were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Pathstone Holdings LLC lifted its position in shares of Oshkosh by 2.6% in the third quarter. Pathstone Holdings LLC now owns 31,895 shares of the company’s stock valued at $3,196,000 after acquiring an additional 819 shares in the last quarter. Quest Partners LLC lifted its holdings in Oshkosh by 1,211.0% in the 3rd quarter. Quest Partners LLC now owns 3,933 shares of the company’s stock worth $394,000 after purchasing an additional 3,633 shares in the last quarter. Equity Investment Corp boosted its stake in Oshkosh by 1.5% in the 3rd quarter. Equity Investment Corp now owns 588,884 shares of the company’s stock worth $59,012,000 after purchasing an additional 8,611 shares during the period. ING Groep NV purchased a new stake in Oshkosh during the 3rd quarter valued at approximately $3,567,000. Finally, KBC Group NV raised its position in shares of Oshkosh by 15.2% during the third quarter. KBC Group NV now owns 1,666 shares of the company’s stock valued at $167,000 after buying an additional 220 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Oshkosh Stock Performance

Oshkosh stock opened at $114.14 on Tuesday. Oshkosh Co. has a 1-year low of $93.34 and a 1-year high of $127.98. The company’s 50-day moving average is $105.26 and its 200 day moving average is $106.75. The firm has a market capitalization of $7.43 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.79.

Oshkosh (NYSE:OSK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.06. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.63 billion. Oshkosh had a return on equity of 19.87% and a net margin of 6.41%. Research analysts forecast that Oshkosh Co. will post 11.35 EPS for the current year.

Oshkosh Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, November 15th. Oshkosh’s dividend payout ratio is presently 17.86%.

Wall Street Analysts Forecast Growth

OSK has been the subject of several research analyst reports. Truist Financial cut their target price on shares of Oshkosh from $126.00 to $114.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Stifel Nicolaus reduced their target price on Oshkosh from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Evercore ISI dropped their price target on Oshkosh from $137.00 to $119.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Robert W. Baird decreased their price objective on Oshkosh from $171.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Oshkosh from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Oshkosh has a consensus rating of “Hold” and a consensus target price of $123.14.

About Oshkosh

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Defense, and Vocational segment. Its Access Equipment segment design and manufacture aerial work platform and telehandlers for use in construction, industrial, and maintenance applications; offers financing and leasing solutions including rental fleet loans, leases, and floor plan and retail financing; and towing and recovery equipment, which includes carriers, wreckers, and rotators, as well as provides equipment installation and sale of chassis and service parts.