BlackRock Inc. cut its holdings in shares of Oshkosh Co. (NYSE:OSK) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,638,203 shares of the company’s stock after selling 277,068 shares during the quarter. BlackRock Inc. owned 9.75% of Oshkosh worth $487,907,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Valley National Advisers Inc. raised its position in Oshkosh by 127.8% during the 2nd quarter. Valley National Advisers Inc. now owns 483 shares of the company’s stock worth $35,000 after buying an additional 271 shares during the last quarter. FinTrust Capital Advisors LLC raised its position in Oshkosh by 100.5% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 750 shares of the company’s stock worth $54,000 after buying an additional 376 shares during the last quarter. Parallel Advisors LLC raised its position in Oshkosh by 766.0% during the 3rd quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock worth $64,000 after buying an additional 766 shares during the last quarter. Private Advisor Group LLC purchased a new position in Oshkosh during the 2nd quarter worth approximately $105,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Oshkosh during the 2nd quarter worth approximately $109,000. 92.31% of the stock is owned by institutional investors.
OSK has been the subject of a number of recent research reports. Bank of America raised shares of Oshkosh from a “neutral” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Monday, October 19th. Raymond James cut their target price on shares of Oshkosh from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Friday, October 30th. Credit Suisse Group cut their target price on shares of Oshkosh from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Monday, November 2nd. JPMorgan Chase & Co. lowered shares of Oshkosh from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $84.00 to $90.00 in a report on Thursday, August 13th. Finally, Sanford C. Bernstein assumed coverage on shares of Oshkosh in a report on Tuesday, September 22nd. They set a “market perform” rating and a $83.00 target price for the company. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $83.07.
Oshkosh (NYSE:OSK) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.21. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.66 billion. Oshkosh had a net margin of 5.15% and a return on equity of 14.93%. Oshkosh’s quarterly revenue was down 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.17 EPS. As a group, sell-side analysts expect that Oshkosh Co. will post 4.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a $0.33 dividend. This is an increase from Oshkosh’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%. Oshkosh’s dividend payout ratio is presently 15.88%.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.
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