Oshkosh Corp. (OSK) Trading Down 0.1% on Insider Selling
Oshkosh Corp. (NYSE:OSK) shares fell 0.1% during trading on Monday after an insider sold shares in the company. The stock traded as low as $2.20 and last traded at $65.80, with a volume of 1,376,064 shares traded. The stock had previously closed at $65.71.
Specifically, VP R Scott Grennier sold 1,000 shares of Oshkosh Corp. stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $54.78, for a total value of $54,780.00. Following the completion of the transaction, the vice president now owns 6,336 shares in the company, valued at $347,086.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph H. Kimmitt sold 47,722 shares of Oshkosh Corp. stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $63.84, for a total transaction of $3,046,572.48. Following the completion of the transaction, the insider now owns 64,790 shares of the company’s stock, valued at approximately $4,136,193.60. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Bank of America Corp. set a $62.00 target price on shares of Oshkosh Corp. and gave the company a “buy” rating in a research note on Saturday, September 17th. Stifel Nicolaus lifted their target price on shares of Oshkosh Corp. from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Drexel Hamilton reiterated a “hold” rating on shares of Oshkosh Corp. in a research note on Monday, September 26th. Jefferies Group reiterated a “buy” rating and issued a $65.00 target price on shares of Oshkosh Corp. in a research note on Monday, September 26th. Finally, JPMorgan Chase & Co. upgraded shares of Oshkosh Corp. from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a research note on Monday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.21.
The company’s 50 day moving average is $55.65 and its 200 day moving average is $51.37. The firm has a market capitalization of $4.95 billion, a P/E ratio of 23.07 and a beta of 1.68.
Oshkosh Corp. (NYSE:OSK) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.21. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.67 billion. Oshkosh Corp. had a net margin of 3.45% and a return on equity of 12.31%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. On average, equities analysts forecast that Oshkosh Corp. will post $3.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be given a dividend of $0.21 per share. This is a positive change from Oshkosh Corp.’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 1.25%. Oshkosh Corp.’s dividend payout ratio (DPR) is currently 26.21%.
Hedge funds have recently bought and sold shares of the company. BlackRock Japan Co. Ltd purchased a new stake in Oshkosh Corp. during the second quarter valued at about $127,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Oshkosh Corp. by 11.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,665 shares of the company’s stock valued at $149,000 after buying an additional 282 shares in the last quarter. US Bancorp DE raised its stake in Oshkosh Corp. by 1.1% in the second quarter. US Bancorp DE now owns 3,154 shares of the company’s stock valued at $150,000 after buying an additional 34 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Oshkosh Corp. during the second quarter valued at about $201,000. Finally, 1st Global Advisors Inc. purchased a new stake in Oshkosh Corp. during the second quarter valued at about $205,000. Institutional investors and hedge funds own 95.05% of the company’s stock.
Oshkosh Corp. Company Profile
Oshkosh Corporation is a manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of defense, concrete placement, refuse hauling, access equipment, and fire and emergency. The company’s brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Frontline, Jerr-Dan, CON-E-CO and London.
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