Panagora Asset Management Inc. Takes $6.70 Million Position in Oshkosh Corporation $OSK

Key Points

• Panagora Asset Management has acquired a new stake in Oshkosh Corporation, purchasing 71,186 shares valued at approximately $6.70 million, which represents about 0.11% ownership of the company.
• Multiple institutional investors have increased their holdings in Oshkosh, particularly Vanguard Group, which now owns over 8.1 million shares, reflecting a strong interest in the stock.
• Oshkosh has received several upgraded price targets from analysts, with Truist Financial raising theirs significantly from $93.00 to $127.00, and others also issuing positive ratings indicating a consensus of "Moderate Buy."

Panagora Asset Management Inc. purchased a new position in Oshkosh Corporation (NYSE:OSK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 71,186 shares of the company's stock, valued at approximately $6,697,000. Panagora Asset Management Inc. owned about 0.11% of Oshkosh at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OSK. Vanguard Group Inc. grew its stake in shares of Oshkosh by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,177,120 shares of the company's stock valued at $769,303,000 after purchasing an additional 35,382 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Oshkosh by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,672,423 shares of the company's stock worth $251,417,000 after acquiring an additional 354,714 shares during the last quarter. American Century Companies Inc. lifted its holdings in Oshkosh by 14.7% in the first quarter. American Century Companies Inc. now owns 2,328,880 shares of the company's stock valued at $219,101,000 after buying an additional 298,470 shares during the period. LSV Asset Management grew its position in shares of Oshkosh by 6.9% during the 1st quarter. LSV Asset Management now owns 1,726,606 shares of the company's stock worth $162,439,000 after buying an additional 111,062 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Oshkosh by 1.6% in the 1st quarter. Invesco Ltd. now owns 1,263,926 shares of the company's stock valued at $118,910,000 after buying an additional 20,365 shares during the period. Institutional investors and hedge funds own 92.36% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Oshkosh from $92.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Evercore ISI reissued an "outperform" rating on shares of Oshkosh in a report on Tuesday, August 19th. Truist Financial raised shares of Oshkosh from a "hold" rating to a "buy" rating and lifted their price objective for the company from $93.00 to $127.00 in a research note on Tuesday, June 3rd. Robert W. Baird boosted their target price on Oshkosh from $169.00 to $188.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, KeyCorp raised their price objective on Oshkosh from $140.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $138.08.

Insider Buying and Selling

In other Oshkosh news, SVP Anupam Khare sold 4,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $139.03, for a total transaction of $556,120.00. Following the completion of the sale, the senior vice president owned 13,716 shares of the company's stock, valued at $1,906,935.48. This represents a 22.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Bryan K. Brandt sold 1,732 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $140.37, for a total value of $243,120.84. Following the transaction, the chief marketing officer owned 10,459 shares of the company's stock, valued at approximately $1,468,129.83. This represents a 14.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

Oshkosh Trading Down 2.8%

NYSE:OSK opened at $139.19 on Monday. 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 firm has a market cap of $8.91 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.73 and a beta of 1.49. The firm has a 50-day moving average price of $129.21 and a two-hundred day moving average price of $108.12. Oshkosh Corporation has a 52 week low of $76.82 and a 52 week high of $144.30.

Oshkosh (NYSE:OSK - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $3.41 EPS for the quarter, topping the consensus estimate of $2.98 by $0.43. The business had revenue of $2.73 billion for 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 revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.34 earnings per share. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. On average, equities analysts expect that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Announces Dividend

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

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