Commerce Bank Grows Stake in Oshkosh Co. (NYSE:OSK)

Commerce Bank grew its position in Oshkosh Co. (NYSE:OSK) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,757 shares of the company’s stock after buying an additional 369 shares during the quarter. Commerce Bank’s holdings in Oshkosh were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in OSK. SG Americas Securities LLC bought a new position in Oshkosh during the 2nd quarter worth about $1,500,000. Cetera Investment Advisers increased its holdings in Oshkosh by 772.9% during the first quarter. Cetera Investment Advisers now owns 27,409 shares of the company’s stock valued at $3,418,000 after buying an additional 24,269 shares during the period. OFI Invest Asset Management bought a new position in Oshkosh in the second quarter worth approximately $1,545,000. Equity Investment Corp boosted its position in Oshkosh by 1.5% during the 3rd quarter. Equity Investment Corp now owns 588,884 shares of the company’s stock valued at $59,012,000 after acquiring an additional 8,611 shares in the last quarter. Finally, M&G Plc increased its holdings in shares of Oshkosh by 6.5% in the 2nd quarter. M&G Plc now owns 128,646 shares of the company’s stock valued at $13,894,000 after acquiring an additional 7,832 shares during the period. Institutional investors own 92.36% of the company’s stock.

Oshkosh Stock Performance

OSK opened at $114.14 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 0.79 and a debt-to-equity ratio of 0.15. Oshkosh Co. has a 12-month low of $93.34 and a 12-month high of $127.98. The firm has a 50 day moving average of $105.26 and a two-hundred day moving average of $106.75. The firm has a market capitalization of $7.43 billion, a PE ratio of 11.08, a P/E/G ratio of 1.10 and a beta of 1.18.

Oshkosh (NYSE:OSK) last posted its earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.06. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.63 billion. Oshkosh had a net margin of 6.41% and a return on equity of 19.87%. On average, analysts anticipate that Oshkosh Co. will post 11.35 EPS for the current year.

Oshkosh Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, November 15th. Oshkosh’s dividend payout ratio is currently 17.86%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OSK shares. Truist Financial dropped their price objective on Oshkosh from $126.00 to $114.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus cut their price objective on shares of Oshkosh from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird decreased their target price on shares of Oshkosh from $171.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Evercore ISI cut their price target on shares of Oshkosh from $137.00 to $119.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price objective on Oshkosh from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Oshkosh presently has an average rating of “Hold” and an average target price of $123.14.

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.