Oshkosh Corporation (NYSE:OSK) Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in Oshkosh Corporation by 9.9%, owning 20,953 shares valued at approximately $1.97 million at the end of the first quarter.
• Multiple analysts have provided mixed ratings for Oshkosh, with Robert W. Baird upgrading its target price from $169 to $188 and Truist Financial raising their target from $93 to $127, indicating a generally positive outlook.
• Oshkosh recently announced a quarterly dividend of $0.51 per share, reflecting an annualized yield of 1.5% and a modest payout ratio of 20.48%.

PNC Financial Services Group Inc. lifted its position in Oshkosh Corporation (NYSE:OSK - Free Report) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,953 shares of the company's stock after purchasing an additional 1,881 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Oshkosh were worth $1,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OSK. Principal Financial Group Inc. boosted its stake in shares of Oshkosh by 0.4% in the first quarter. Principal Financial Group Inc. now owns 149,716 shares of the company's stock valued at $14,085,000 after purchasing an additional 553 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Oshkosh during the first quarter worth approximately $263,000. DAVENPORT & Co LLC raised its holdings in Oshkosh by 5.6% during the first quarter. DAVENPORT & Co LLC now owns 6,040 shares of the company's stock worth $568,000 after purchasing an additional 319 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Oshkosh by 17.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,577 shares of the company's stock worth $713,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Oshkosh by 20.1% during the first quarter. Teacher Retirement System of Texas now owns 25,137 shares of the company's stock worth $2,365,000 after purchasing an additional 4,203 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Oshkosh Price Performance

Shares of NYSE:OSK traded up $2.04 on Wednesday, reaching $140.80. 136,845 shares of the company were exchanged, compared to its average volume of 782,268. The company has a current ratio of 1.84, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Oshkosh Corporation has a 1-year low of $76.82 and a 1-year high of $140.81. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43. The company has a 50-day moving average of $121.18 and a 200-day moving average of $105.19.

Oshkosh (NYSE:OSK - Get Free Report) last released 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. Oshkosh had a net margin of 6.25% and a return on equity of 16.70%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm earned $3.34 EPS. The business's revenue for the quarter was down 4.0% compared to the same quarter last year. Equities analysts forecast that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 1.4%. Oshkosh's payout ratio is currently 20.48%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OSK. JPMorgan Chase & Co. raised their price objective on shares of Oshkosh from $92.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Truist Financial raised shares of Oshkosh from a "hold" rating to a "buy" rating and lifted their target price for the company from $93.00 to $127.00 in a report on Tuesday, June 3rd. Evercore ISI lifted their target price on shares of Oshkosh from $137.00 to $147.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Morgan Stanley cut their target price on shares of Oshkosh from $110.00 to $91.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup reissued a "buy" rating and issued a $130.00 price objective (up from $125.00) on shares of Oshkosh in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $133.08.

Oshkosh Company 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.