Oshkosh Corporation (OSK) Given New $105.00 Price Target at Jefferies Group LLC

Oshkosh Corporation (NYSE:OSK) had its price target increased by Jefferies Group LLC from $95.00 to $105.00 in a report issued on Wednesday morning. The brokerage currently has a buy rating on the stock. Jefferies Group also issued estimates for Oshkosh Corporation’s Q1 2018 earnings at $0.60 EPS, Q2 2018 earnings at $0.90 EPS, Q3 2018 earnings at $1.90 EPS and FY2018 earnings at $4.60 EPS.

Several other equities analysts have also weighed in on the stock. J P Morgan Chase & Co lifted their target price on shares of Oshkosh Corporation from $80.00 to $88.00 and gave the company a neutral rating in a report on Wednesday. Robert W. Baird restated a buy rating and set a $97.00 target price on shares of Oshkosh Corporation in a report on Wednesday. KeyCorp reaffirmed an overweight rating and set a $100.00 price target (up previously from $90.00) on shares of Oshkosh Corporation in a research note on Wednesday. Stifel Nicolaus reaffirmed a buy rating and set a $100.00 price target on shares of Oshkosh Corporation in a research note on Wednesday. Finally, SunTrust Banks, Inc. reaffirmed a buy rating and set a $90.00 price target on shares of Oshkosh Corporation in a research note on Friday, October 27th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $92.85.

Oshkosh Corporation (NYSE:OSK) last posted its earnings results on Tuesday, October 31st. The company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.36. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.90 billion. Oshkosh Corporation had a net margin of 4.18% and a return on equity of 15.14%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.96 annualized dividend and a dividend yield of 1.05%. This is an increase from Oshkosh Corporation’s previous quarterly dividend of $0.21. Oshkosh Corporation’s payout ratio is presently 22.34%.

In related news, VP R Scott Grennier sold 4,883 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $74.40, for a total transaction of $363,295.20. Following the completion of the sale, the vice president now owns 4,912 shares of the company’s stock, valued at approximately $365,452.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Marek W. May sold 3,200 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $74.89, for a total transaction of $239,648.00. Following the sale, the vice president now directly owns 11,068 shares of the company’s stock, valued at approximately $828,882.52. The disclosure for this sale can be found here. Insiders sold a total of 50,533 shares of company stock valued at $3,810,466 in the last three months. Insiders own 2.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its position in shares of Oshkosh Corporation by 3.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,039 shares of the company’s stock valued at $140,000 after buying an additional 68 shares during the last quarter. Paradigm Asset Management Co. LLC grew its position in shares of Oshkosh Corporation by 4.7% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 2,250 shares of the company’s stock valued at $155,000 after buying an additional 100 shares during the last quarter. ARP Americas LLC bought a new stake in shares of Oshkosh Corporation during the 2nd quarter valued at about $206,000. Raymond James Trust N.A. grew its position in shares of Oshkosh Corporation by 0.9% during the 2nd quarter. Raymond James Trust N.A. now owns 3,054 shares of the company’s stock valued at $210,000 after buying an additional 28 shares during the last quarter. Finally, CrestPoint Capital Management LLC bought a new stake in shares of Oshkosh Corporation during the 2nd quarter valued at about $234,000. 94.35% of the stock is owned by institutional investors and hedge funds.

About Oshkosh Corporation

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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