DAVENPORT & Co LLC Reduces Stock Holdings in Oshkosh Co. (NYSE:OSK)

DAVENPORT & Co LLC lowered its position in Oshkosh Co. (NYSE:OSK) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,721 shares of the company’s stock after selling 1,069 shares during the quarter. DAVENPORT & Co LLC’s holdings in Oshkosh were worth $544,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Oshkosh in the third quarter valued at about $25,000. Blue Trust Inc. grew its holdings in shares of Oshkosh by 108.7% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Oshkosh in the third quarter valued at about $34,000. International Assets Investment Management LLC grew its holdings in shares of Oshkosh by 9,922.2% in the third quarter. International Assets Investment Management LLC now owns 902 shares of the company’s stock valued at $90,000 after purchasing an additional 893 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of Oshkosh by 35.5% in the third quarter. Venturi Wealth Management LLC now owns 1,001 shares of the company’s stock valued at $100,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Oshkosh Stock Down 1.0 %

Shares of NYSE:OSK opened at $110.44 on Friday. The firm’s 50 day moving average price is $99.58 and its 200 day moving average price is $103.12. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.97 and a beta of 1.22. Oshkosh Co. has a fifty-two week low of $89.08 and a fifty-two week 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.

Oshkosh (NYSE:OSK) last issued its earnings results on Thursday, January 30th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts predict that Oshkosh Co. will post 11 earnings per share for the current fiscal year.

Oshkosh Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.51 dividend. This is a boost from Oshkosh’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, February 14th. This represents a $2.04 annualized dividend and a yield of 1.85%. Oshkosh’s dividend payout ratio (DPR) is 17.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OSK shares. Truist Financial upped their price objective on shares of Oshkosh from $109.00 to $118.00 and gave the company a “hold” rating in a report on Friday, January 31st. Robert W. Baird lowered their target price on shares of Oshkosh from $171.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Raymond James increased their target price on shares of Oshkosh from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Oshkosh from $115.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Citigroup lowered their target price on shares of Oshkosh from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.00.

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.