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

Oshkosh logo with Auto/Tires/Trucks background

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.

Get Our Latest Stock Analysis on Oshkosh

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

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Oshkosh (NYSE:OSK)

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