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

The Manufacturers Life Insurance Company lowered its holdings in Oshkosh Co. (NYSE:OSK) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 52,964 shares of the company’s stock after selling 2,265 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Oshkosh worth $5,308,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Oshkosh in the second quarter worth $1,500,000. Cetera Investment Advisers boosted its stake in shares of Oshkosh by 772.9% during the 1st quarter. Cetera Investment Advisers now owns 27,409 shares of the company’s stock valued at $3,418,000 after purchasing an additional 24,269 shares in the last quarter. OFI Invest Asset Management bought a new position in Oshkosh in the second quarter worth about $1,545,000. Horizon Kinetics Asset Management LLC lifted its holdings in Oshkosh by 3.4% in the third quarter. Horizon Kinetics Asset Management LLC now owns 141,140 shares of the company’s stock worth $14,144,000 after buying an additional 4,680 shares during the period. Finally, Equity Investment Corp lifted its holdings in Oshkosh by 1.5% in the third quarter. Equity Investment Corp now owns 588,884 shares of the company’s stock worth $59,012,000 after buying an additional 8,611 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OSK. Truist Financial lowered their target price on Oshkosh from $126.00 to $114.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of Oshkosh from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Evercore ISI lowered their target price on shares of Oshkosh from $137.00 to $119.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Finally, Robert W. Baird cut their price target on Oshkosh from $171.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Oshkosh presently has an average rating of “Hold” and an average target price of $123.14.

Oshkosh Stock Down 1.4 %

Oshkosh stock opened at $111.88 on Friday. The stock has a market cap of $7.28 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 1.46. The stock has a fifty day moving average of $106.76 and a 200 day moving average of $106.50. Oshkosh Co. has a one year low of $93.34 and a one year high of $127.98.

Oshkosh (NYSE:OSK) last released its earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.06. Oshkosh had a return on equity of 19.87% and a net margin of 6.41%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.63 billion. As a group, sell-side analysts predict that Oshkosh Co. will post 11.35 EPS for the current year.

Oshkosh Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.64%. Oshkosh’s payout ratio is 17.86%.

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.