Cornerstone Wealth Management LLC Sells 551 Shares of Oshkosh Co. (NYSE:OSK)

Cornerstone Wealth Management LLC trimmed its stake in Oshkosh Co. (NYSE:OSK) by 17.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,633 shares of the company’s stock after selling 551 shares during the period. Cornerstone Wealth Management LLC’s holdings in Oshkosh were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC raised its position in shares of Oshkosh by 161.6% in the first quarter. Atlas Capital Advisors LLC now owns 225 shares of the company’s stock valued at $28,000 after purchasing an additional 139 shares during the period. Headlands Technologies LLC bought a new position in Oshkosh in the 1st quarter worth $31,000. Bessemer Group Inc. lifted its position in Oshkosh by 280.6% during the 1st quarter. Bessemer Group Inc. now owns 392 shares of the company’s stock worth $49,000 after acquiring an additional 289 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Oshkosh by 51.3% in the first quarter. GAMMA Investing LLC now owns 581 shares of the company’s stock valued at $72,000 after purchasing an additional 197 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of Oshkosh by 18.2% in the first quarter. Valley National Advisers Inc. now owns 623 shares of the company’s stock worth $77,000 after purchasing an additional 96 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Oshkosh Stock Up 1.9 %

Shares of NYSE OSK opened at $108.14 on Friday. The business has a fifty day moving average of $102.22 and a two-hundred day moving average of $108.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.44. Oshkosh Co. has a 52-week low of $86.10 and a 52-week high of $127.98. The stock has a market cap of $7.04 billion, a PE ratio of 10.46, a PEG ratio of 1.02 and a beta of 1.19.

Oshkosh (NYSE:OSK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.34. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.78 billion. Oshkosh had a net margin of 6.58% and a return on equity of 20.83%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 earnings per share. As a group, equities research analysts expect that Oshkosh Co. will post 11.4 earnings per share for the current fiscal year.

Oshkosh Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.84 annualized dividend and a yield of 1.70%. Oshkosh’s payout ratio is 17.79%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OSK shares. Truist Financial decreased 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. Citigroup started coverage on shares of Oshkosh in a research note on Wednesday, June 26th. They issued a “buy” rating and a $130.00 price objective on the stock. Evercore ISI cut their target price on shares of Oshkosh from $137.00 to $119.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus decreased their price target on shares of Oshkosh from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Raymond James assumed coverage on shares of Oshkosh in a research report on Friday, June 28th. They set an “outperform” rating and a $125.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Oshkosh presently has an average rating of “Hold” and a consensus price target of $125.29.

Oshkosh Company 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.