Oshkosh (NYSE:OSK) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Oshkosh Corporation (NYSE:OSK)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $137.92 and traded as high as $142.35. Oshkosh shares last traded at $140.1370, with a volume of 647,599 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OSK shares. Wall Street Zen downgraded shares of Oshkosh from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price objective on shares of Oshkosh in a research note on Monday. Truist Financial restated a “buy” rating and set a $161.00 target price (down from $174.00) on shares of Oshkosh in a report on Friday, October 30th. Citigroup lifted their price target on Oshkosh from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Finally, DA Davidson reduced their price target on Oshkosh from $168.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Oshkosh has a consensus rating of “Moderate Buy” and a consensus price target of $163.79.

Oshkosh Price Performance

The company has a market cap of $8.63 billion, a PE ratio of 17.87, a PEG ratio of 1.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.72 and a quick ratio of 1.00. The stock’s 50-day moving average is $137.51 and its 200 day moving average is $145.91.

Oshkosh (NYSE:OSK) last released its quarterly earnings results on Thursday, October 29th. The company reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.06 by ($0.65). The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Oshkosh had a return on equity of 11.69% and a net margin of 4.63%. Oshkosh’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.20 earnings per share. On average, equities analysts anticipate that Oshkosh Corporation will post 8.83 earnings per share for the current fiscal year.

Oshkosh Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, November 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.6%. Oshkosh’s payout ratio is presently 28.79%.

Insider Buying and Selling at Oshkosh

In other news, Director John Pfeifer sold 778 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $150.00, for a total transaction of $116,700.00. Following the transaction, the director owned 150,669 shares in the company, valued at $22,600,350. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.64% of the company’s stock.

Institutional Trading of Oshkosh

Several large investors have recently bought and sold shares of OSK. BlackRock Inc. purchased a new position in shares of Oshkosh in the second quarter worth $913,816,000. Dimensional Fund Advisors LP increased its position in shares of Oshkosh by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,051,511 shares of the company’s stock valued at $449,166,000 after acquiring an additional 46,306 shares during the period. First Trust Advisors LP raised its stake in Oshkosh by 6.3% in the 1st quarter. First Trust Advisors LP now owns 1,290,424 shares of the company’s stock worth $189,963,000 after acquiring an additional 76,620 shares during the last quarter. Bank of America Corp DE raised its stake in Oshkosh by 0.9% in the 1st quarter. Bank of America Corp DE now owns 978,610 shares of the company’s stock worth $144,061,000 after acquiring an additional 8,531 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Oshkosh in the 2nd quarter worth $92,996,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

About Oshkosh

Oshkosh Corporation is a manufacturer of specialty vehicles and equipment for customers in construction, emergency response, waste services, airports and defense. Its products include JLG aerial work platforms and telehandlers, fire and emergency vehicles, refuse collection trucks, concrete mixers, airport snow removal equipment and military vehicles. The company operates through Access, Vocational and Defense businesses, with well-known brands including JLG, Pierce, McNeilus and Oshkosh. Its equipment serves customers in the United States and international markets.