Oshkosh Co. (NYSE:OSK) Holdings Cut by Eastern Bank

Eastern Bank cut its stake in Oshkosh Co. (NYSE:OSK) by 87.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,748 shares of the company’s stock after selling 95,995 shares during the period. Eastern Bank’s holdings in Oshkosh were worth $1,378,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Oshkosh during the 2nd quarter valued at about $1,500,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Oshkosh during the 1st quarter valued at $1,507,000. M&G Plc acquired a new position in Oshkosh during the 1st quarter worth $15,102,000. Cetera Investment Advisers grew its stake in shares of Oshkosh by 772.9% in the first quarter. Cetera Investment Advisers now owns 27,409 shares of the company’s stock worth $3,418,000 after purchasing an additional 24,269 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Oshkosh during the second quarter valued at about $1,545,000. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OSK. Evercore ISI decreased their target price on shares of Oshkosh from $137.00 to $119.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Raymond James initiated coverage on Oshkosh in a report on Friday, June 28th. They set an “outperform” rating and a $125.00 target price on the stock. Truist Financial lowered their price target on Oshkosh from $126.00 to $114.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Jefferies Financial Group cut their price objective on Oshkosh from $135.00 to $105.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Stifel Nicolaus lowered 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Oshkosh currently has an average rating of “Hold” and an average price target of $125.29.

Oshkosh Stock Up 0.9 %

Shares of Oshkosh stock opened at $105.24 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Oshkosh Co. has a 1 year low of $86.10 and a 1 year high of $127.98. The stock has a 50-day moving average price of $102.31 and a 200 day moving average price of $108.65. The company has a market cap of $6.85 billion, a P/E ratio of 10.18, a P/E/G ratio of 1.06 and a beta of 1.19.

Oshkosh (NYSE:OSK) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.34. Oshkosh had a net margin of 6.58% and a return on equity of 20.83%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm posted $2.69 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, analysts expect that Oshkosh Co. will post 11.33 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, August 16th. Oshkosh’s dividend payout ratio (DPR) is presently 17.79%.

Oshkosh Profile

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.