Point72 Hong Kong Ltd Acquires New Position in Oshkosh Co. (NYSE:OSK)

Point72 Hong Kong Ltd acquired a new stake in Oshkosh Co. (NYSE:OSK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,109 shares of the company’s stock, valued at approximately $1,851,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. raised its position in Oshkosh by 408.8% during the 4th quarter. Franklin Resources Inc. now owns 64,407 shares of the company’s stock worth $6,982,000 after buying an additional 51,748 shares during the last quarter. Commerce Bank purchased a new position in Oshkosh during the 4th quarter worth approximately $638,000. Hsbc Holdings PLC raised its position in Oshkosh by 26.4% during the 4th quarter. Hsbc Holdings PLC now owns 99,681 shares of the company’s stock worth $10,836,000 after buying an additional 20,798 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Oshkosh by 4.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 29,829 shares of the company’s stock worth $3,234,000 after buying an additional 1,201 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its position in Oshkosh by 13,150.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,325 shares of the company’s stock worth $144,000 after buying an additional 1,315 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Oshkosh Price Performance

Oshkosh stock opened at $99.55 on Thursday. The company’s fifty day moving average price is $103.95 and its 200 day moving average price is $111.00. Oshkosh Co. has a 1 year low of $86.10 and a 1 year high of $127.98. The stock has a market capitalization of $6.48 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.97 and a beta of 1.19. 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 (NYSE:OSK) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.34. Oshkosh had a net margin of 6.58% and a return on equity of 20.83%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company posted $2.69 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts anticipate that Oshkosh Co. will post 11.62 earnings per share for the current fiscal year.

Oshkosh Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.46 per share. The ex-dividend date was Friday, August 16th. This represents a $1.84 annualized dividend and a yield of 1.85%. Oshkosh’s dividend payout ratio (DPR) is presently 17.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OSK shares. JPMorgan Chase & Co. reduced their price target on shares of Oshkosh from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. 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 report on Monday, August 19th. Citigroup initiated coverage on shares of Oshkosh in a report on Wednesday, June 26th. They set a “buy” rating and a $130.00 target price for the company. Raymond James initiated coverage on shares of Oshkosh in a report on Friday, June 28th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Truist Financial lifted their target price on shares of Oshkosh from $123.00 to $126.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.79.

About Oshkosh

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.