Convergence Investment Partners LLC lifted its holdings in Oshkosh Corp (NYSE:OSK) by 24.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,641 shares of the company’s stock after buying an additional 3,319 shares during the period. Convergence Investment Partners LLC’s holdings in Oshkosh were worth $1,374,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of Oshkosh by 3.5% in the second quarter. Advisors Asset Management Inc. now owns 2,039 shares of the company’s stock worth $140,000 after purchasing an additional 68 shares during the period. Paradigm Asset Management Co. LLC boosted its holdings in shares of Oshkosh by 4.7% during the second quarter. Paradigm Asset Management Co. LLC now owns 2,250 shares of the company’s stock worth $155,000 after purchasing an additional 100 shares during the period. ARP Americas LLC purchased a new stake in shares of Oshkosh during the second quarter worth about $206,000. CIBC Asset Management Inc purchased a new stake in shares of Oshkosh during the third quarter worth about $208,000. Finally, Raymond James Trust N.A. boosted its holdings in shares of Oshkosh by 0.9% during the second quarter. Raymond James Trust N.A. now owns 3,054 shares of the company’s stock worth $210,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.
In other news, insider Wilson R. Jones sold 40,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $85.14, for a total transaction of $3,405,600.00. Following the sale, the insider now owns 159,859 shares in the company, valued at $13,610,395.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bradley M. Nelson sold 7,500 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $83.86, for a total transaction of $628,950.00. Following the sale, the senior vice president now owns 18,908 shares in the company, valued at approximately $1,585,624.88. The disclosure for this sale can be found here. Insiders have sold 115,153 shares of company stock valued at $9,953,433 in the last ninety days. Insiders own 2.00% of the company’s stock.
Oshkosh (NYSE:OSK) last announced its earnings results on Tuesday, October 31st. The company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.36. Oshkosh had a net margin of 4.18% and a return on equity of 15.14%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. research analysts forecast that Oshkosh Corp will post 4.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were paid a dividend of $0.24 per share. This is an increase from Oshkosh’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. Oshkosh’s dividend payout ratio (DPR) is currently 25.53%.
OSK has been the subject of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price on shares of Oshkosh in a report on Wednesday, November 1st. Citigroup increased their target price on shares of Oshkosh from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Jefferies Group reissued a “buy” rating and issued a $85.00 price target on shares of Oshkosh in a research note on Thursday, September 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $100.00 price target on shares of Oshkosh in a research note on Thursday, November 2nd. Finally, KeyCorp reissued a “buy” rating and issued a $85.00 price target on shares of Oshkosh in a research note on Sunday, September 17th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $92.85.
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Oshkosh 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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