Cetera Investment Advisers Sells 2,922 Shares of Oshkosh Corporation (NYSE:OSK)

Key Points

• Cetera Investment Advisers reduced its stake in Oshkosh Corporation by 19.0%, now holding 12,453 shares worth $1,172,000 after selling 2,922 shares in the first quarter.
• The company reported earnings of $3.41 EPS for the last quarter, exceeding analysts' estimates of $2.98, despite a 4.0% decline in quarterly revenue compared to the previous year.
• Oshkosh recently declared a $0.51 quarterly dividend with a yield of 1.5%, scheduled for payment on September 2nd, impacting shareholders who were on record as of August 19th.

Cetera Investment Advisers reduced its stake in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 19.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,453 shares of the company's stock after selling 2,922 shares during the quarter. Cetera Investment Advisers' holdings in Oshkosh were worth $1,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OSK. Parallel Advisors LLC grew its stake in shares of Oshkosh by 91.4% in the first quarter. Parallel Advisors LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 127 shares during the last quarter. CX Institutional bought a new stake in shares of Oshkosh in the first quarter worth about $28,000. Coppell Advisory Solutions LLC grew its stake in shares of Oshkosh by 52.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 321 shares of the company's stock worth $30,000 after purchasing an additional 110 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Oshkosh by 147.6% in the first quarter. Golden State Wealth Management LLC now owns 312 shares of the company's stock worth $30,000 after purchasing an additional 186 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Oshkosh by 88.7% in the first quarter. Signaturefd LLC now owns 636 shares of the company's stock worth $60,000 after purchasing an additional 299 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Oshkosh Stock Performance

OSK traded down $1.42 during mid-day trading on Thursday, reaching $140.27. 430,588 shares of the company traded hands, compared to its average volume of 782,833. The stock has a market capitalization of $8.98 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.73 and a beta of 1.43. The company has a quick ratio of 0.92, a current ratio of 1.84 and a debt-to-equity ratio of 0.25. The company's fifty day moving average price is $121.98 and its 200-day moving average price is $105.44. Oshkosh Corporation has a 52-week low of $76.82 and a 52-week high of $141.98.

Oshkosh (NYSE:OSK - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.98 by $0.43. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.67 billion. Oshkosh had a net margin of 6.25% and a return on equity of 16.70%. The company's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.34 EPS. On average, sell-side analysts expect that Oshkosh Corporation will post 10.96 EPS for the current year.

Oshkosh Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Oshkosh's payout ratio is presently 20.48%.

Analyst Upgrades and Downgrades

OSK has been the subject of several research analyst reports. Robert W. Baird raised their price objective on shares of Oshkosh from $169.00 to $188.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Truist Financial upgraded shares of Oshkosh from a "hold" rating to a "buy" rating and raised their price objective for the stock from $93.00 to $127.00 in a report on Tuesday, June 3rd. JPMorgan Chase & Co. raised their price objective on shares of Oshkosh from $92.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Evercore ISI raised their price objective on shares of Oshkosh from $137.00 to $147.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Morgan Stanley lowered their target price on shares of Oshkosh from $110.00 to $91.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $133.08.

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.