ING Groep NV Purchases 18,400 Shares of Oshkosh Corporation (NYSE:OSK)

Key Points

• ING Groep NV increased its stake in Oshkosh Corporation by 51.7% in the first quarter, acquiring an additional 18,400 shares to reach a total of 54,000 shares valued at approximately $5.08 million.
• Wall Street analysts have a positive outlook on Oshkosh, with several firms raising their price targets, resulting in an average target price of $133.08 and a consensus rating of "Moderate Buy."
• Oshkosh recently announced a quarterly dividend of $0.51 to be paid on September 2nd, yielding about 1.5%, with a payout ratio of 20.48%.

ING Groep NV raised its stake in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 51.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 54,000 shares of the company's stock after purchasing an additional 18,400 shares during the quarter. ING Groep NV owned 0.08% of Oshkosh worth $5,080,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in OSK. O Shaughnessy Asset Management LLC increased its holdings in shares of Oshkosh by 16.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,562 shares of the company's stock worth $244,000 after purchasing an additional 371 shares during the period. Geode Capital Management LLC increased 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 acquiring an additional 40,260 shares during the period. Wells Fargo & Company MN increased its stake in Oshkosh by 13.1% in the fourth quarter. Wells Fargo & Company MN now owns 68,868 shares of the company's stock valued at $6,547,000 after acquiring an additional 7,960 shares during the period. FMR LLC increased 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 acquiring an additional 159,667 shares during the period. Finally, Invesco Ltd. grew its stake in Oshkosh by 2.3% during the fourth quarter. Invesco Ltd. now owns 1,243,561 shares of the company's stock worth $118,225,000 after buying an additional 27,659 shares during the last quarter. Institutional investors own 92.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Oshkosh from $169.00 to $188.00 and gave the stock an "outperform" rating in a research note on Monday. The Goldman Sachs Group raised shares of Oshkosh from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $124.00 to $131.00 in a research note on Tuesday, July 1st. UBS Group upped their price objective on shares of Oshkosh from $149.00 to $164.00 and gave the stock a "buy" rating in a research note on Tuesday. DA Davidson upped their price objective on shares of Oshkosh from $148.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Evercore ISI upped their price objective on shares of Oshkosh from $137.00 to $147.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $133.08.

Oshkosh Price Performance

Shares of Oshkosh stock opened at $139.58 on Wednesday. Oshkosh Corporation has a twelve month low of $76.82 and a twelve month high of $139.95. 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 has a 50-day simple moving average of $117.60 and a two-hundred day simple moving average of $103.82. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.06 and a beta of 1.43.

Oshkosh (NYSE:OSK - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $3.41 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $2.67 billion. During the same quarter in the previous year, the company earned $3.34 EPS. The business's revenue was down 4.0% on a year-over-year basis. Analysts forecast that Oshkosh Corporation will post 10.96 EPS for the current year.

Oshkosh Announces Dividend

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

About Oshkosh

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.

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