Bank of America Corp DE Invests $135.66 Million in Oshkosh Corporation $OSK

Key Points

• Bank of America acquired 883,867 Oshkosh shares worth approximately $135.7 million in the second quarter, representing about 1.43% of the company. Institutional investors collectively own 92.36% of Oshkosh.
• Analyst sentiment is favorable, with an average rating of “Moderate Buy” from 17 analysts and an average price target of $170.71. Several firms recently raised their targets, including Truist Financial to $190.
• Oshkosh exceeded quarterly earnings and revenue expectations, reporting $2.87 in EPS and $2.92 billion in revenue. The company also maintains a quarterly dividend of $0.57 per share, equivalent to a 1.6% annual yield.

Bank of America Corp DE acquired a new stake in Oshkosh Corporation (NYSE:OSK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 883,867 shares of the company's stock, valued at approximately $135,656,000. Bank of America Corp DE owned approximately 1.43% of Oshkosh as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Oshkosh during the second quarter valued at about $913,816,000. Dimensional Fund Advisors LP increased its position in 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 buying an additional 46,306 shares in the last quarter. LSV Asset Management increased its position in Oshkosh by 0.9% in the 4th quarter. LSV Asset Management now owns 1,913,769 shares of the company's stock valued at $240,427,000 after buying an additional 17,944 shares in the last quarter. First Trust Advisors LP raised its stake in Oshkosh by 6.3% during the 1st quarter. First Trust Advisors LP now owns 1,290,424 shares of the company's stock worth $189,963,000 after buying an additional 76,620 shares during the period. Finally, Capital Research Global Investors raised its stake in Oshkosh by 143.9% during the 4th quarter. Capital Research Global Investors now owns 1,193,156 shares of the company's stock worth $149,896,000 after buying an additional 704,022 shares during the period. Institutional investors and hedge funds own 92.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial raised their price objective on Oshkosh from $176.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. DA Davidson increased their target price on Oshkosh from $168.00 to $176.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Zacks Research raised shares of Oshkosh from a "strong sell" rating to a "hold" rating in a research report on Friday, August 21st. Weiss Ratings upgraded shares of Oshkosh from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, July 13th. Finally, Barclays raised their price objective on shares of Oshkosh from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $170.71.

Insider Buying and Selling at Oshkosh

In other Oshkosh news, Director John Pfeifer sold 778 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $150.00, for a total value of $116,700.00. Following the transaction, the director owned 150,669 shares of the company's stock, valued at approximately $22,600,350. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is owned by insiders.

Oshkosh Stock Performance

Shares of OSK stock opened at $144.97 on Friday. The firm has a 50-day moving average of $150.67 and a 200-day moving average of $145.76. The company has a market cap of $8.95 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.07 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 0.96. Oshkosh Corporation has a one year low of $116.77 and a one year high of $180.49.

Oshkosh (NYSE:OSK - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.24. Oshkosh had a net margin of 5.24% and a return on equity of 12.95%. The business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.80 billion. During the same period in the previous year, the company earned $3.41 earnings per share. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. Oshkosh has set its FY 2026 guidance at 11.000-11.000 EPS. Equities research analysts forecast that Oshkosh Corporation will post 10.72 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, August 13th. Oshkosh's payout ratio is presently 26.09%.

Oshkosh Company Profile

Oshkosh Corporation NYSE: OSK is a manufacturer of specialty vehicles and equipment headquartered in Oshkosh, Wisconsin. Founded in 1917, the company serves commercial, government and municipal customers in markets that require purpose-built vehicles for demanding operating environments.

Oshkosh operates through businesses focused on access equipment, defense, fire apparatus and vocational vehicles. Its products include aerial work platforms and other equipment used in construction and industrial applications; tactical vehicles, trailers and related systems for defense and security customers; fire trucks, airport rescue vehicles and emergency response equipment; and vocational vehicles for refuse collection, concrete placement, snow removal and other specialized tasks.

The company serves customers in North America and international markets through a combination of manufacturing operations, dealerships, distributors and direct sales.

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