Teacher Retirement System of Texas Boosts Stake in Oshkosh Corporation $OSK

Key Points

• Teacher Retirement System of Texas boosted its Oshkosh stake by 143.2% in Q4 to 64,269 shares (about $8.07M), and overall institutional investors own roughly 92.36% of the stock.
• Oshkosh reported Q4 EPS of $2.26 (missing estimates by $0.07) while revenue rose to $2.69 billion (above estimates), and analysts hold a consensus "Moderate Buy" with a $165.56 price target.
• The company increased its quarterly dividend to $0.57 (annualized $2.28, ~1.5% yield); OSK trades near $150 with a market cap of $9.41 billion and a P/E around 15.

Teacher Retirement System of Texas increased its position in Oshkosh Corporation (NYSE:OSK - Free Report) by 143.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 64,269 shares of the company's stock after purchasing an additional 37,842 shares during the period. Teacher Retirement System of Texas owned 0.10% of Oshkosh worth $8,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH purchased a new position in Oshkosh in the 3rd quarter valued at about $422,000. Mutual Advisors LLC acquired a new position in shares of Oshkosh during the 3rd quarter valued at about $849,000. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Oshkosh during the 4th quarter valued at about $4,183,000. Peterson Wealth Services increased its stake in shares of Oshkosh by 3,459.5% during the 3rd quarter. Peterson Wealth Services now owns 56,952 shares of the company's stock valued at $7,387,000 after acquiring an additional 55,352 shares during the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in shares of Oshkosh during the 3rd quarter valued at about $1,162,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Oshkosh Stock Down 1.9%

OSK opened at $150.20 on Friday. The firm has a 50 day moving average price of $154.69 and a 200 day moving average price of $143.24. The company has a market cap of $9.41 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.79 and a beta of 1.39. Oshkosh Corporation has a 1 year low of $82.14 and a 1 year high of $180.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.94.

Oshkosh (NYSE:OSK - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.33 by ($0.07). The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.60 billion. Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $2.58 EPS. Sell-side analysts expect that Oshkosh Corporation will post 11.14 earnings per share for the current year.

Oshkosh Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were given a dividend of $0.57 per share. This is a boost from Oshkosh's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.28 dividend on an annualized basis and a yield of 1.5%. Oshkosh's dividend payout ratio is currently 22.75%.

Insider Transactions at Oshkosh

In related news, SVP Anupam Khare sold 4,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $169.07, for a total transaction of $676,280.00. Following the completion of the sale, the senior vice president owned 13,577 shares of the company's stock, valued at approximately $2,295,463.39. This represents a 22.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

OSK has been the subject of a number of research analyst reports. Truist Financial set a $183.00 price objective on shares of Oshkosh in a research note on Friday, January 30th. Zacks Research raised shares of Oshkosh from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 5th. Wells Fargo & Company upped their price objective on shares of Oshkosh from $168.00 to $204.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of Oshkosh from $182.00 to $158.00 and set a "neutral" rating for the company in a research note on Friday, April 10th. Finally, DA Davidson upped their price objective on shares of Oshkosh from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.56.

About Oshkosh

Oshkosh Corporation NYSE: OSK is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company's offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.

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