Oshkosh Corporation (NYSE:OSK) Short Interest Down 25.7% in February

Key Points

• Short interest down 25.7% — Short interest fell to 2,335,552 shares as of Feb. 27 (about 3.8% of shares outstanding) with a days-to-cover ratio of roughly 3.1.
• Analyst consensus: Moderate Buy — Thirteen analysts rate OSK a Buy and six a Hold, giving a consensus rating of "Moderate Buy" and a consensus price target of $165.31.
• Dividend increased — Oshkosh raised its quarterly dividend to $0.57 (annualized $2.28), up from $0.51, implying a 1.5% yield and a payout ratio of about 22.8%.

Oshkosh Corporation (NYSE:OSK - Get Free Report) was the recipient of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 2,335,552 shares, a decrease of 25.7% from the February 12th total of 3,142,434 shares. Approximately 3.8% of the company's stock are sold short. Based on an average trading volume of 755,577 shares, the days-to-cover ratio is presently 3.1 days. Based on an average trading volume of 755,577 shares, the days-to-cover ratio is presently 3.1 days. Approximately 3.8% of the company's stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OSK shares. Robert W. Baird set a $182.00 price target on Oshkosh in a report on Friday, January 30th. Weiss Ratings restated a "buy (b-)" rating on shares of Oshkosh in a research note on Thursday, January 22nd. Zacks Research raised Oshkosh from a "strong sell" rating to a "hold" rating in a report on Thursday, March 5th. Truist Financial set a $183.00 price objective on shares of Oshkosh in a research note on Friday, January 30th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $175.00 target price on shares of Oshkosh in a report on Monday, March 2nd. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Oshkosh currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.31.

Insider Transactions at Oshkosh

In related news, SVP Anupam Khare sold 4,000 shares of the firm's stock in a transaction 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 directly owned 13,577 shares of the company's stock, valued at approximately $2,295,463.39. This trade represents a 22.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by company insiders.

Institutional Trading of Oshkosh

Several hedge funds and other institutional investors have recently modified their holdings of the company. Keybank National Association OH acquired a new stake in Oshkosh in the 3rd quarter valued at approximately $422,000. Mutual Advisors LLC acquired a new position in shares of Oshkosh during the third quarter worth approximately $849,000. Peterson Wealth Services boosted its position in shares of Oshkosh by 3,459.5% in the third 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 period. Convergence Investment Partners LLC bought a new stake in shares of Oshkosh in the third quarter valued at approximately $1,162,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Oshkosh in the third quarter worth $1,399,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Oshkosh Stock Down 1.7%

Shares of OSK traded down $2.62 during trading hours on Friday, reaching $147.24. The company's stock had a trading volume of 492,368 shares, compared to its average volume of 692,004. The company has a 50 day moving average of $159.27 and a two-hundred day moving average of $140.54. The company has a quick ratio of 1.05, a current ratio of 1.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 0.76 and a beta of 1.37. Oshkosh has a 1-year low of $76.82 and a 1-year high of $180.49.

Oshkosh (NYSE:OSK - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.07). The company 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 business's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 earnings per share. As a group, research analysts predict that Oshkosh will post 10.96 EPS for the current fiscal year.

Oshkosh Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, February 17th. This represents a $2.28 annualized dividend and a dividend yield of 1.5%. This is an increase from Oshkosh's previous quarterly dividend of $0.51. Oshkosh's dividend payout ratio is presently 22.75%.

Oshkosh Company Profile

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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