The Manufacturers Life Insurance Company Reduces Holdings in Oshkosh Co. (NYSE:OSK)

The Manufacturers Life Insurance Company lessened its holdings in Oshkosh Co. (NYSE:OSK) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,086 shares of the company’s stock after selling 878 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Oshkosh worth $4,952,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OSK. Barclays PLC lifted its stake in Oshkosh by 40.9% in the 3rd quarter. Barclays PLC now owns 111,710 shares of the company’s stock valued at $11,192,000 after buying an additional 32,435 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Oshkosh by 8.3% in the third quarter. Tidal Investments LLC now owns 10,841 shares of the company’s stock worth $1,086,000 after acquiring an additional 827 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Oshkosh in the third quarter valued at $532,000. JPMorgan Chase & Co. boosted its stake in shares of Oshkosh by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 195,906 shares of the company’s stock valued at $19,632,000 after acquiring an additional 28,478 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Oshkosh by 29.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 312,134 shares of the company’s stock worth $29,675,000 after purchasing an additional 71,911 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Oshkosh Stock Up 2.9 %

Shares of NYSE:OSK opened at $91.19 on Friday. Oshkosh Co. has a 1 year low of $76.82 and a 1 year high of $123.25. The stock has a 50-day simple moving average of $90.53 and a 200-day simple moving average of $99.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 1.51. The stock has a market capitalization of $5.87 billion, a P/E ratio of 8.81, a PEG ratio of 1.45 and a beta of 1.37.

Oshkosh (NYSE:OSK) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.92 earnings per share (EPS) 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 analyst estimates of $2.42 billion. Oshkosh had a return on equity of 19.31% and a net margin of 6.34%. Oshkosh’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.89 EPS. Equities analysts forecast that Oshkosh Co. will post 10.96 earnings per share for the current year.

Oshkosh Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 2.24%. Oshkosh’s payout ratio is currently 21.79%.

Analyst Ratings Changes

A number of research firms have issued reports on OSK. Truist Financial reduced their target price on shares of Oshkosh from $94.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Evercore ISI upped their price objective on shares of Oshkosh from $122.00 to $137.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on Oshkosh from $100.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Bank of America increased their price target on Oshkosh from $95.00 to $110.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. Finally, Citigroup reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Oshkosh in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Oshkosh currently has an average rating of “Moderate Buy” and an average target price of $112.64.

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.