Invesco Ltd. Boosts Stake in Oshkosh Corporation $OSK

Key Points

• Invesco Ltd. increased its stake in Oshkosh Corporation by 1.6% in the first quarter, owning 1,263,926 shares valued at approximately $118.9 million.
• Multiple analysts have recently updated their price targets for Oshkosh, with Bank of America setting a target of $103.00 and Robert W. Baird raising it to $188.00, reflecting varied outlooks on the company's performance.
• Oshkosh reported earnings of $3.41 per share for the last quarter, surpassing estimates of $2.98, although its quarterly revenue showed a 4.0% decline year-over-year.

Invesco Ltd. boosted its position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,263,926 shares of the company's stock after purchasing an additional 20,365 shares during the period. Invesco Ltd. owned about 1.96% of Oshkosh worth $118,910,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in OSK. Wells Fargo & Company MN grew its holdings in Oshkosh by 13.1% during the 4th quarter. Wells Fargo & Company MN now owns 68,868 shares of the company's stock valued at $6,547,000 after purchasing an additional 7,960 shares during the last quarter. Raymond James Financial Inc. bought a new position in Oshkosh during the 4th quarter valued at about $8,467,000. Bessemer Group Inc. grew its holdings in Oshkosh by 105.8% during the 4th quarter. Bessemer Group Inc. now owns 745 shares of the company's stock valued at $71,000 after purchasing an additional 383 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Oshkosh by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 28,677 shares of the company's stock valued at $2,726,000 after purchasing an additional 180 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in Oshkosh during the 4th quarter valued at about $986,000. 92.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. DA Davidson set a $160.00 target price on shares of Oshkosh and gave the stock a "buy" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group upgraded shares of Oshkosh from a "neutral" rating to a "buy" rating and upped their target price for the stock from $124.00 to $131.00 in a research note on Tuesday, July 1st. Citigroup restated a "buy" rating and issued a $130.00 target price (up from $125.00) on shares of Oshkosh in a research note on Tuesday, June 24th. Evercore ISI restated an "outperform" rating on shares of Oshkosh in a research note on Tuesday. Finally, UBS Group set a $164.00 target price on shares of Oshkosh and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.08.

Oshkosh Stock Down 0.1%

NYSE:OSK traded down $0.07 during midday trading on Tuesday, reaching $139.70. 77,956 shares of the stock traded hands, compared to its average volume of 774,491. Oshkosh Corporation has a 12-month low of $76.82 and a 12-month high of $141.98. The business has a 50-day moving average of $123.76 and a two-hundred day moving average of $106.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 1.84. The stock has a market capitalization of $8.94 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.43.

Oshkosh (NYSE:OSK - Get Free Report) last posted its 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 company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter in the prior year, the company posted $3.34 earnings per share. Oshkosh's revenue for the quarter was down 4.0% compared to the same quarter last year. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. On average, equities analysts forecast that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 yield of 1.5%. Oshkosh's dividend payout ratio is presently 20.48%.

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.