Davis R M Inc. Reduces Holdings in Oshkosh Corporation (NYSE:OSK)

Key Points

• Davis R M Inc. reduced its stake in Oshkosh Corporation by 39.3% in Q1, selling 34,254 shares and holding approximately 0.08% of the company valued at $4.98 million.
• Oshkosh reported Q1 earnings of $1.92 per share, missing estimates by $0.10, with a 9.1% decline in year-over-year revenue.
• Wall Street analysts have mixed ratings on Oshkosh, with an average rating of "Moderate Buy" and a consensus target price of $129.69, indicating potential upside from current levels.

Davis R M Inc. reduced its stake in Oshkosh Corporation (NYSE:OSK - Free Report) by 39.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,905 shares of the company's stock after selling 34,254 shares during the quarter. Davis R M Inc. owned about 0.08% of Oshkosh worth $4,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Oshkosh by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,709 shares of the company's stock valued at $220,342,000 after purchasing an additional 206,377 shares in the last quarter. FMR LLC raised its stake in Oshkosh by 13.0% in the fourth quarter. FMR LLC now owns 1,383,558 shares of the company's stock valued at $131,535,000 after purchasing an additional 159,667 shares in the last quarter. Invesco Ltd. raised its stake in Oshkosh by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,243,561 shares of the company's stock valued at $118,225,000 after purchasing an additional 27,659 shares in the last quarter. Geode Capital Management LLC raised its stake in Oshkosh by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 1,130,190 shares of the company's stock valued at $107,479,000 after purchasing an additional 40,260 shares in the last quarter. Finally, Norges Bank purchased a new stake in Oshkosh in the fourth quarter valued at approximately $72,692,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Oshkosh Trading Up 3.2%

Shares of Oshkosh stock traded up $4.02 on Friday, hitting $130.55. The stock had a trading volume of 1,492,233 shares, compared to its average volume of 744,290. The company has a quick ratio of 0.86, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. Oshkosh Corporation has a one year low of $76.82 and a one year high of $133.86. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.10 and a beta of 1.43. The stock's 50-day simple moving average is $116.04 and its two-hundred day simple moving average is $103.22.

Oshkosh (NYSE:OSK - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.43. Oshkosh had a net margin of 5.84% and a return on equity of 17.22%. The firm had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter last year, the business earned $3.34 earnings per share. The business's revenue was down 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Oshkosh Corporation will post 10.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group reiterated a "hold" rating on shares of Oshkosh in a research report on Friday, June 6th. The Goldman Sachs Group upgraded shares of Oshkosh from a "neutral" rating to a "buy" rating and increased their price target for the company from $124.00 to $131.00 in a research report on Tuesday, July 1st. Truist Financial upgraded shares of Oshkosh from a "hold" rating to a "buy" rating and increased their price target for the company from $93.00 to $127.00 in a research report on Tuesday, June 3rd. Bank of America increased their price target on shares of Oshkosh from $90.00 to $103.00 and gave the company an "underperform" rating in a research report on Friday, June 6th. Finally, Morgan Stanley reduced their price target on shares of Oshkosh from $110.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.25.

Oshkosh 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.