Oshkosh Corporation $OSK Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp significantly reduced its holdings in Oshkosh Corporation by 80.9% in the first quarter, with their investment now valued at $546,000 after selling 24,555 shares.
• Oshkosh recently received positive upgrades from several analysts, including a raised price target to $180.00 from KeyCorp and multiple "buy" ratings from firms like Citigroup and Goldman Sachs.
• The company reported strong earnings of $3.41 EPS for the quarter, surpassing analyst expectations, although its revenue fell 4% compared to the previous year.

Synovus Financial Corp reduced its position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) by 80.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,802 shares of the company's stock after selling 24,555 shares during the period. Synovus Financial Corp's holdings in Oshkosh were worth $546,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Oshkosh by 91.4% during the first quarter. Parallel Advisors LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 127 shares during the period. CX Institutional purchased a new position in shares of Oshkosh during the first quarter worth $28,000. Golden State Wealth Management LLC boosted its position in shares of Oshkosh by 147.6% during the first quarter. Golden State Wealth Management LLC now owns 312 shares of the company's stock worth $30,000 after buying an additional 186 shares during the period. Signaturefd LLC boosted its position in shares of Oshkosh by 88.7% during the first quarter. Signaturefd LLC now owns 636 shares of the company's stock worth $60,000 after buying an additional 299 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Oshkosh by 107.6% during the first quarter. Brooklyn Investment Group now owns 714 shares of the company's stock worth $67,000 after buying an additional 370 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen lowered Oshkosh from a "buy" rating to a "hold" rating in a report on Saturday. Robert W. Baird lifted their target price on Oshkosh from $169.00 to $188.00 and gave the company an "outperform" rating in a report on Monday, August 4th. UBS Group set a $164.00 target price on Oshkosh and gave the company a "buy" rating in a report on Tuesday, August 5th. Bank of America lifted their target price on Oshkosh from $90.00 to $103.00 and gave the company an "underperform" rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group upgraded Oshkosh from a "neutral" rating to a "buy" rating and lifted their target price for the company from $124.00 to $131.00 in a report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $138.08.

Oshkosh Stock Performance

Shares of Oshkosh stock traded down $3.97 on Friday, hitting $139.19. The stock had a trading volume of 877,534 shares, compared to its average volume of 583,569. The company's 50 day moving average price is $129.21 and its 200 day moving average price is $108.12. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.73 and a beta of 1.49. 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 52-week low of $76.82 and a 52-week high of $144.30.

Oshkosh (NYSE:OSK - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.98 by $0.43. Oshkosh had a return on equity of 16.70% and a net margin of 6.25%.The company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter in the previous year, the business earned $3.34 earnings per share. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. On average, research analysts anticipate that Oshkosh Corporation will post 10.96 EPS for the current year.

Oshkosh Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, August 19th. Oshkosh's payout ratio is 20.48%.

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.