Oshkosh (NYSE:OSK) Shares Gap Up After Strong Earnings

Oshkosh Co. (NYSE:OSK)’s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $121.25, but opened at $124.89. Oshkosh shares last traded at $121.66, with a volume of 274,956 shares trading hands.

The company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.63. Oshkosh had a net margin of 6.93% and a return on equity of 20.39%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year.

Oshkosh Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.84 annualized dividend and a yield of 1.56%. Oshkosh’s dividend payout ratio is presently 17.61%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Oshkosh from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Citigroup upped their price objective on shares of Oshkosh from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. TheStreet upgraded shares of Oshkosh from a “c” rating to a “b-” rating in a research note on Tuesday, January 30th. Truist Financial boosted their target price on shares of Oshkosh from $121.00 to $132.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Robert W. Baird boosted their target price on shares of Oshkosh from $140.00 to $158.00 and gave the stock an “outperform” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.50.

Insider Buying and Selling

In related news, SVP Anupam Khare sold 4,234 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $111.38, for a total transaction of $471,582.92. Following the completion of the sale, the senior vice president now directly owns 13,499 shares of the company’s stock, valued at approximately $1,503,518.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Oshkosh

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Oshkosh by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 7,130,466 shares of the company’s stock valued at $773,014,000 after buying an additional 219,375 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in Oshkosh by 0.5% during the 4th quarter. Greenhaven Associates Inc. now owns 2,469,789 shares of the company’s stock worth $267,750,000 after acquiring an additional 11,100 shares during the last quarter. LSV Asset Management grew its holdings in Oshkosh by 410.6% during the 4th quarter. LSV Asset Management now owns 1,848,390 shares of the company’s stock worth $200,384,000 after acquiring an additional 1,486,402 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Oshkosh by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,747,710 shares of the company’s stock worth $189,473,000 after acquiring an additional 122,786 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Oshkosh by 2.0% during the 3rd quarter. Invesco Ltd. now owns 857,911 shares of the company’s stock worth $81,870,000 after acquiring an additional 16,919 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Oshkosh Trading Down 0.9 %

The business’s fifty day simple moving average is $117.49 and its 200 day simple moving average is $107.07. The company has a current ratio of 1.43, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock has a market cap of $7.71 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29.

Oshkosh Company 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.