Raymond James Financial Inc. Acquires 6,032 Shares of Oshkosh Corporation $OSK

Key Points

• Raymond James Financial Inc. increased its stake in Oshkosh Corporation by 6.8% during the first quarter, now owning 95,095 shares valued at approximately $8.95 million.
• Oshkosh reported better-than-expected earnings of $3.41 EPS for the last quarter, surpassing analysts' estimates by $0.43, though revenue fell 4.0% year-over-year.
• The company recently announced a quarterly dividend of $0.51 per share, with a yield of 1.5%, set to be paid on September 2nd.

Raymond James Financial Inc. raised its holdings in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,095 shares of the company's stock after acquiring an additional 6,032 shares during the quarter. Raymond James Financial Inc. owned approximately 0.15% of Oshkosh worth $8,947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OSK. Dimensional Fund Advisors LP raised its holdings in Oshkosh by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,672,423 shares of the company's stock valued at $251,417,000 after acquiring an additional 354,714 shares during the period. American Century Companies Inc. raised its holdings in Oshkosh by 14.7% during the first quarter. American Century Companies Inc. now owns 2,328,880 shares of the company's stock valued at $219,101,000 after acquiring an additional 298,470 shares during the period. Point72 Asset Management L.P. bought a new stake in Oshkosh during the fourth quarter valued at about $25,968,000. Nuveen LLC bought a new stake in Oshkosh during the first quarter valued at about $23,542,000. Finally, Balyasny Asset Management L.P. raised its holdings in Oshkosh by 84.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 462,034 shares of the company's stock valued at $43,926,000 after acquiring an additional 211,244 shares during the period. 92.36% of the stock is owned by institutional investors.

Oshkosh Stock Down 2.8%

Shares of NYSE:OSK opened at $139.19 on Monday. 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 12 month low of $76.82 and a 12 month high of $144.30. The company has a 50-day moving average price of $129.21 and a 200 day moving average price of $108.12. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.73 and a beta of 1.49.

Oshkosh (NYSE:OSK - Get Free Report) last announced its quarterly 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 firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm earned $3.34 EPS. The firm'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. As a group, equities research analysts predict that Oshkosh Corporation will post 10.96 earnings per share for the current year.

Oshkosh Dividend Announcement

The company 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. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Oshkosh's dividend payout ratio is 20.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OSK. UBS Group set a $164.00 price objective on Oshkosh and gave the company a "buy" rating in a research report on Tuesday, August 5th. Jefferies Financial Group restated a "hold" rating on shares of Oshkosh in a research report on Friday, June 6th. Wall Street Zen lowered Oshkosh from a "buy" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group upgraded Oshkosh from a "neutral" rating to a "buy" rating and raised their price objective for the company from $124.00 to $131.00 in a research report on Tuesday, July 1st. Finally, Robert W. Baird raised their price objective on Oshkosh from $169.00 to $188.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. One investment 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 MarketBeat.com, Oshkosh has a consensus rating of "Moderate Buy" and an average price target of $138.08.

Insider Transactions at Oshkosh

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

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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