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

Royal Bank of Canada lessened its holdings in Oshkosh Co. (NYSE:OSK - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,927 shares of the company's stock after selling 14,128 shares during the period. Royal Bank of Canada owned about 0.47% of Oshkosh worth $28,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC increased its stake in Oshkosh by 40.9% during the 3rd quarter. Barclays PLC now owns 111,710 shares of the company's stock worth $11,192,000 after buying an additional 32,435 shares in the last quarter. Merit Financial Group LLC increased its stake in Oshkosh by 6.9% during the 4th quarter. Merit Financial Group LLC now owns 4,040 shares of the company's stock worth $384,000 after buying an additional 259 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Oshkosh by 8.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 34,053 shares of the company's stock worth $3,237,000 after buying an additional 2,629 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in Oshkosh by 5.4% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 4,457 shares of the company's stock worth $424,000 after buying an additional 228 shares in the last quarter. Finally, Tributary Capital Management LLC increased its stake in Oshkosh by 46.6% during the 4th quarter. Tributary Capital Management LLC now owns 6,715 shares of the company's stock worth $638,000 after buying an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on OSK. Bank of America boosted their price objective on Oshkosh from $95.00 to $110.00 and gave the stock an "underperform" rating in a research note on Monday, February 10th. Robert W. Baird cut their price objective on Oshkosh from $163.00 to $135.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Morgan Stanley cut their price objective on Oshkosh from $110.00 to $91.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on Oshkosh from $100.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Truist Financial cut their price target on Oshkosh from $94.00 to $93.00 and set a "hold" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $114.93.

Oshkosh Trading Up 0.4%

Oshkosh stock traded up $0.38 during mid-day trading on Thursday, hitting $100.44. The company's stock had a trading volume of 118,534 shares, compared to its average volume of 626,202. The firm has a market capitalization of $6.47 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.45 and a beta of 1.37. Oshkosh Co. has a 1 year low of $76.82 and a 1 year high of $118.39. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average is $91.35 and its two-hundred day moving average is $98.34.

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

Oshkosh Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 2.03%. Oshkosh's payout ratio is 21.79%.

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.