Royal Bank of Canada Cuts Stock Holdings in Oshkosh Co. (NYSE:OSK)

Royal Bank of Canada lessened its stake in Oshkosh Co. (NYSE:OSK - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 302,927 shares of the company's stock after selling 14,128 shares during the quarter. Royal Bank of Canada owned approximately 0.47% of Oshkosh worth $28,800,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Oshkosh by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 8,141,738 shares of the company's stock valued at $774,035,000 after purchasing an additional 176,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Oshkosh by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,709 shares of the company's stock worth $220,342,000 after acquiring an additional 206,377 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Oshkosh by 23.3% in the fourth quarter. American Century Companies Inc. now owns 2,030,410 shares of the company's stock worth $193,031,000 after acquiring an additional 384,141 shares during the last quarter. FMR LLC increased its stake in shares of Oshkosh by 13.0% in the fourth quarter. FMR LLC now owns 1,383,558 shares of the company's stock worth $131,535,000 after acquiring an additional 159,667 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Oshkosh by 2.3% during the 4th quarter. Invesco Ltd. now owns 1,243,561 shares of the company's stock worth $118,225,000 after purchasing an additional 27,659 shares during the last quarter. Institutional investors own 92.36% of the company's stock.

Wall Street Analysts Forecast Growth

OSK has been the topic of several analyst reports. UBS Group increased their price target on shares of Oshkosh from $99.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Truist Financial reduced their price target on shares of Oshkosh from $94.00 to $93.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Raymond James raised their price objective on shares of Oshkosh from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Bank of America raised their price objective on shares of Oshkosh from $95.00 to $110.00 and gave the stock an "underperform" rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Oshkosh from $100.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $114.93.

Oshkosh Trading Up 3.4%

Oshkosh stock traded up $3.28 during mid-day trading on Tuesday, hitting $101.02. 415,905 shares of the stock were exchanged, compared to its average volume of 628,126. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.45 and a beta of 1.37. Oshkosh Co. has a 12 month low of $76.82 and a 12 month high of $118.39. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.14. The firm's fifty day simple moving average is $91.20 and its two-hundred day simple moving average is $98.31.

Oshkosh (NYSE:OSK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.10). Oshkosh had a net margin of 6.34% and a return on equity of 19.31%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the business posted $2.89 EPS. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts forecast that Oshkosh Co. will post 10.96 EPS for the current year.

Oshkosh Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, May 16th. Oshkosh's payout ratio is 21.79%.

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.