AQR Capital Management LLC Grows Holdings in Oshkosh Corporation $OSK

Key Points

• AQR Capital Management LLC significantly increased its stake in Oshkosh Corporation by 267.3%, owning 1,363,556 shares valued at approximately $126.2 million by the end of the most recent quarter.
• Oshkosh received mixed analyst ratings, with some upgrades, including a move from hold to strong-buy by Zacks Research, while Wall Street Zen downgraded it from buy to hold.
• The company reported an earnings per share (EPS) of $3.41 for the last quarter, exceeding the consensus estimate, although its revenue showed a 4% decrease compared to the previous year.

AQR Capital Management LLC increased its stake in Oshkosh Corporation (NYSE:OSK - Free Report) by 267.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,363,556 shares of the company's stock after acquiring an additional 992,313 shares during the quarter. AQR Capital Management LLC owned about 2.12% of Oshkosh worth $126,224,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Atlantic Investment Management Inc. raised its holdings in Oshkosh by 2.6% during the 1st quarter. Atlantic Investment Management Inc. now owns 235,900 shares of the company's stock worth $22,193,000 after purchasing an additional 5,900 shares during the last quarter. Amundi boosted its stake in shares of Oshkosh by 104.1% in the 1st quarter. Amundi now owns 31,359 shares of the company's stock valued at $2,715,000 after purchasing an additional 15,995 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Oshkosh during the first quarter worth $477,000. Cubist Systematic Strategies LLC raised its stake in Oshkosh by 25.4% during the first quarter. Cubist Systematic Strategies LLC now owns 161,296 shares of the company's stock worth $15,175,000 after buying an additional 32,683 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Oshkosh by 10.7% during the first quarter. Royal Bank of Canada now owns 335,393 shares of the company's stock worth $31,553,000 after buying an additional 32,466 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on OSK. Evercore ISI reaffirmed an "outperform" rating on shares of Oshkosh in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upped their target price on Oshkosh from $92.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Robert W. Baird raised their target price on Oshkosh from $169.00 to $188.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Wall Street Zen lowered Oshkosh from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, UBS Group set a $164.00 price target on Oshkosh and gave the stock a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.08.

Insider Activity

In other Oshkosh news, SVP Anupam Khare sold 4,000 shares of Oshkosh stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $139.03, for a total transaction of $556,120.00. Following the completion of the transaction, the senior vice president owned 13,716 shares in the company, valued at approximately $1,906,935.48. The trade was a 22.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Bryan K. Brandt sold 1,732 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $140.37, for a total value of $243,120.84. Following the sale, the chief marketing officer directly owned 10,459 shares of the company's stock, valued at $1,468,129.83. This represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Oshkosh Stock Up 0.3%

Shares of NYSE:OSK traded up $0.41 during trading on Friday, reaching $139.53. 653,914 shares of the stock were exchanged, compared to its average volume of 500,442. Oshkosh Corporation has a 1-year low of $76.82 and a 1-year high of $144.30. The stock has a fifty day moving average of $131.93 and a two-hundred day moving average of $109.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.84 and a quick ratio of 0.92. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.74 and a beta of 1.49.

Oshkosh (NYSE:OSK - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $2.98 by $0.43. Oshkosh had a net margin of 6.25% and a return on equity of 16.70%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business posted $3.34 EPS. Oshkosh's quarterly revenue was down 4.0% on a year-over-year basis. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. Research analysts anticipate that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 19th. Oshkosh's dividend payout ratio is currently 20.48%.

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.