Oshkosh (NYSE:OSK) Trading Down 5.8% – Here’s What Happened

Oshkosh Corporation (NYSE:OSK) dropped 5.8% during mid-day trading on Wednesday . The company traded as low as $142.27 and last traded at $142.35. Approximately 293,063 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 769,991 shares. The stock had previously closed at $151.04.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OSK. Zacks Research raised Oshkosh from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. cut their price target on Oshkosh from $182.00 to $158.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Bank of America upgraded Oshkosh from an “underperform” rating to a “neutral” rating and set a $149.00 price objective for the company in a report on Tuesday, February 3rd. Citigroup cut shares of Oshkosh from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $180.00 to $170.00 in a report on Monday. Finally, Wall Street Zen raised shares of Oshkosh from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Oshkosh currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.56.

Oshkosh Stock Performance

The business has a 50-day moving average of $157.30 and a two-hundred day moving average of $142.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.94 and a quick ratio of 1.05. The company has a market cap of $9.22 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.72 and a beta of 1.39.

Oshkosh (NYSE:OSK) last announced its earnings results on Thursday, January 29th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.07). Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts predict that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.5%. This is a positive change from Oshkosh’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, February 17th. Oshkosh’s payout ratio is 22.75%.

Insider Activity

In other news, SVP Anupam Khare sold 4,000 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $169.07, for a total transaction of $676,280.00. Following the completion of the sale, the senior vice president owned 13,577 shares in the company, valued at approximately $2,295,463.39. This represents a 22.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Oshkosh

Several institutional investors have recently added to or reduced their stakes in the business. Southpoint Capital Advisors LP purchased a new position in shares of Oshkosh in the 4th quarter valued at approximately $175,882,000. Norges Bank purchased a new position in shares of Oshkosh in the fourth quarter worth $127,907,000. First Trust Advisors LP raised its holdings in shares of Oshkosh by 408.7% in the fourth quarter. First Trust Advisors LP now owns 1,213,804 shares of the company’s stock worth $152,490,000 after buying an additional 975,206 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Oshkosh by 908.0% during the third quarter. Alliancebernstein L.P. now owns 913,497 shares of the company’s stock worth $118,481,000 after buying an additional 822,874 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Oshkosh by 143.9% during the fourth quarter. Capital Research Global Investors now owns 1,193,156 shares of the company’s stock valued at $149,896,000 after buying an additional 704,022 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

About Oshkosh

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.