True North Advisors LLC Makes New $807,000 Investment in Oshkosh Corporation (NYSE:OSK)

Key Points

• True North Advisors LLC has made a new investment of approximately $807,000 in Oshkosh Corporation, acquiring 8,580 shares during the first quarter.
• Oshkosh Corporation reported last quarter earnings per share of $3.41, exceeding analysts' expectations by $0.43, and had revenue of $2.73 billion.
• The company recently announced a quarterly dividend of $0.51 per share, providing a dividend yield of 1.5%.

True North Advisors LLC bought a new position in shares of Oshkosh Corporation (NYSE:OSK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,580 shares of the company's stock, valued at approximately $807,000.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in Oshkosh by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 149,716 shares of the company's stock valued at $14,085,000 after buying an additional 553 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in Oshkosh in the 1st quarter valued at approximately $263,000. DAVENPORT & Co LLC grew its position in shares of Oshkosh by 5.6% during the 1st quarter. DAVENPORT & Co LLC now owns 6,040 shares of the company's stock valued at $568,000 after purchasing an additional 319 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Oshkosh by 17.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,577 shares of the company's stock valued at $713,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of Oshkosh by 20.1% during the 1st quarter. Teacher Retirement System of Texas now owns 25,137 shares of the company's stock valued at $2,365,000 after purchasing an additional 4,203 shares in the last quarter. Institutional investors own 92.36% of the company's stock.

Oshkosh Stock Performance

Shares of NYSE OSK opened at $134.37 on Friday. Oshkosh Corporation has a 52-week low of $76.82 and a 52-week high of $139.95. The company has a market cap of $8.60 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.70 and a beta of 1.43. The firm's fifty day moving average is $119.73 and its two-hundred day moving average is $104.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 1.84.

Oshkosh (NYSE:OSK - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.98 by $0.43. Oshkosh had a net margin of 6.25% and a return on equity of 16.70%. The firm had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same period in the previous year, the company earned $3.34 EPS. The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, analysts anticipate that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Oshkosh's payout ratio is currently 20.48%.

Analyst Upgrades and Downgrades

OSK has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating and set a $130.00 price target (up from $125.00) on shares of Oshkosh in a research report on Tuesday, June 24th. Truist Financial upgraded shares of Oshkosh from a "hold" rating to a "buy" rating and boosted their price target for the company from $93.00 to $127.00 in a research report on Tuesday, June 3rd. Evercore ISI boosted their price target on shares of Oshkosh from $137.00 to $147.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on shares of Oshkosh from $92.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Finally, UBS Group set a $164.00 price objective on shares of Oshkosh and gave the stock a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $133.08.

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.

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