Summit Global Investments Has $581,000 Stock Holdings in Oshkosh Co. (NYSE:OSK)

Summit Global Investments cut its stake in Oshkosh Co. (NYSE:OSK) by 65.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,114 shares of the company’s stock after selling 11,709 shares during the quarter. Summit Global Investments’ holdings in Oshkosh were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of OSK. Blue Trust Inc. increased its position in Oshkosh by 108.7% in the 4th quarter. Blue Trust Inc. now owns 265 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Oshkosh in the fourth quarter worth approximately $32,000. Brooklyn Investment Group acquired a new position in Oshkosh in the third quarter worth approximately $34,000. Proficio Capital Partners LLC acquired a new position in Oshkosh in the fourth quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC increased its holdings in Oshkosh by 64.1% in the fourth quarter. V Square Quantitative Management LLC now owns 402 shares of the company’s stock worth $38,000 after buying an additional 157 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Oshkosh Stock Performance

NYSE OSK opened at $95.75 on Monday. Oshkosh Co. has a twelve month low of $89.08 and a twelve month high of $127.98. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.14. The stock has a market cap of $6.18 billion, a P/E ratio of 9.25, a PEG ratio of 1.45 and a beta of 1.21. The company’s 50-day simple moving average is $101.44 and its 200 day simple moving average is $102.32.

Oshkosh (NYSE:OSK) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.36. Oshkosh had a net margin of 6.34% and a return on equity of 19.31%. As a group, research analysts forecast that Oshkosh Co. will post 10.96 earnings per share for the current fiscal year.

Oshkosh Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, February 14th. This is an increase from Oshkosh’s previous quarterly dividend of $0.46. Oshkosh’s payout ratio is currently 19.71%.

Wall Street Analysts Forecast Growth

OSK has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of Oshkosh from $109.00 to $118.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Raymond James raised their price target on Oshkosh from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. UBS Group raised their target price on Oshkosh from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group lowered their target price on Oshkosh from $135.00 to $116.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, Morgan Stanley raised their price objective on shares of Oshkosh from $98.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $124.38.

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.