Covestor Ltd Buys 854 Shares of Oshkosh Co. (NYSE:OSK)

Covestor Ltd grew its position in Oshkosh Co. (NYSE:OSK) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,865 shares of the company’s stock after purchasing an additional 854 shares during the quarter. Oshkosh comprises approximately 0.4% of Covestor Ltd’s investment portfolio, making the stock its 22nd biggest position. Covestor Ltd’s holdings in Oshkosh were worth $653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennedy Capital Management LLC raised its position in shares of Oshkosh by 34.7% in the 4th quarter. Kennedy Capital Management LLC now owns 100,509 shares of the company’s stock worth $9,555,000 after acquiring an additional 25,916 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Oshkosh by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 28,677 shares of the company’s stock worth $2,726,000 after acquiring an additional 180 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Oshkosh by 105.8% during the fourth quarter. Bessemer Group Inc. now owns 745 shares of the company’s stock worth $71,000 after purchasing an additional 383 shares during the period. Raymond James Financial Inc. bought a new stake in Oshkosh during the 4th quarter valued at approximately $8,467,000. Finally, Advisory Services Network LLC boosted its position in shares of Oshkosh by 43.3% in the 4th quarter. Advisory Services Network LLC now owns 5,289 shares of the company’s stock worth $503,000 after purchasing an additional 1,599 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OSK shares. Morgan Stanley boosted their price objective on shares of Oshkosh from $98.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Evercore ISI increased their price objective on shares of Oshkosh from $122.00 to $137.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on shares of Oshkosh from $127.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Citigroup reduced their target price on shares of Oshkosh from $130.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Truist Financial lowered their target price on shares of Oshkosh from $118.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $117.38.

Oshkosh Price Performance

Oshkosh stock traded down $4.31 during trading hours on Thursday, hitting $84.74. The stock had a trading volume of 95,313 shares, compared to its average volume of 755,475. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.51 and a quick ratio of 0.76. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.45 and a beta of 1.26. Oshkosh Co. has a 1-year low of $76.82 and a 1-year high of $125.00. The stock’s fifty day moving average is $99.21 and its two-hundred day moving average is $101.28.

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

Oshkosh Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Oshkosh’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 14th. Oshkosh’s payout ratio is 19.71%.

Oshkosh Company Profile

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.