Oshkosh Corporation $OSK Shares Sold by South Dakota Investment Council

Key Points

• South Dakota Investment Council cut its Oshkosh (NYSE:OSK) stake by 38.0%, selling 11,771 shares and leaving it with 19,201 shares valued at about $2.49 million per its latest 13F filing.
• Several large institutions added or expanded positions—Norges Bank started a new ~<$98.57M> position and firms like American Century, AQR, Allianz and Amundi materially increased holdings, leaving institutional investors with about 92.36% ownership of the stock.
• Oshkosh recently missed quarterly EPS ($2.26 vs. $2.33 est.) but beat revenue ($2.69B), raised its quarterly dividend to $0.57 (annual $2.28, 1.4% yield), and carries a consensus analyst rating of “Moderate Buy” with a $162.81 target.

South Dakota Investment Council lessened its stake in Oshkosh Corporation (NYSE:OSK - Free Report) by 38.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,201 shares of the company's stock after selling 11,771 shares during the period. South Dakota Investment Council's holdings in Oshkosh were worth $2,490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Oshkosh in the 2nd quarter valued at approximately $98,570,000. American Century Companies Inc. raised its stake in shares of Oshkosh by 22.8% during the second quarter. American Century Companies Inc. now owns 2,858,787 shares of the company's stock worth $324,587,000 after purchasing an additional 529,907 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Oshkosh by 25.4% during the second quarter. AQR Capital Management LLC now owns 1,709,338 shares of the company's stock worth $193,728,000 after purchasing an additional 345,782 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Oshkosh by 1,245.4% during the third quarter. Allianz Asset Management GmbH now owns 217,365 shares of the company's stock worth $28,192,000 after purchasing an additional 201,209 shares during the period. Finally, Amundi grew its position in Oshkosh by 616.7% in the 2nd quarter. Amundi now owns 224,765 shares of the company's stock valued at $27,529,000 after buying an additional 193,406 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Oshkosh Stock Performance

OSK opened at $166.78 on Thursday. Oshkosh Corporation has a 1-year low of $76.82 and a 1-year high of $180.49. The stock has a market cap of $10.43 billion, a P/E ratio of 16.64, a P/E/G ratio of 0.85 and a beta of 1.37. The stock's 50 day simple moving average is $155.76 and its 200 day simple moving average is $139.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.94 and a quick ratio of 1.05.

Oshkosh (NYSE:OSK - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $2.26 EPS for the quarter, missing analysts' consensus estimates of $2.33 by ($0.07). Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The firm had revenue of $2.69 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.57 per share. This is an increase from Oshkosh's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, February 17th. This represents a $2.28 annualized dividend and a yield of 1.4%. Oshkosh's payout ratio is 22.75%.

Insiders Place Their Bets

In other Oshkosh news, SVP Anupam Khare sold 4,000 shares of Oshkosh stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $169.07, for a total transaction of $676,280.00. Following the completion of the transaction, the senior vice president owned 13,577 shares in the company, valued at approximately $2,295,463.39. The trade was a 22.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

OSK has been the subject of a number of analyst reports. Truist Financial set a $183.00 price objective on shares of Oshkosh in a research report on Friday, January 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oshkosh in a research note on Thursday, January 22nd. Robert W. Baird set a $182.00 price target on shares of Oshkosh in a report on Friday, January 30th. Argus lowered their price objective on Oshkosh from $175.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, December 10th. Finally, Barclays started coverage on Oshkosh in a research report on Tuesday, November 25th. They set an "overweight" rating and a $150.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.81.

About Oshkosh

Oshkosh Corporation NYSE: OSK is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company's offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.

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