Eastern Bank Reduces Stock Holdings in Oshkosh Co. (NYSE:OSK)

Eastern Bank reduced its stake in shares of Oshkosh Co. (NYSE:OSK) by 42.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,936 shares of the company’s stock after selling 5,812 shares during the period. Eastern Bank’s holdings in Oshkosh were worth $754,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Oshkosh by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 195,906 shares of the company’s stock valued at $19,632,000 after buying an additional 28,478 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Oshkosh during the 3rd quarter valued at about $504,000. Y Intercept Hong Kong Ltd lifted its position in shares of Oshkosh by 57.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,184 shares of the company’s stock valued at $2,023,000 after buying an additional 7,334 shares in the last quarter. Barclays PLC lifted its position in shares of Oshkosh by 40.9% during the 3rd quarter. Barclays PLC now owns 111,710 shares of the company’s stock valued at $11,192,000 after buying an additional 32,435 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in shares of Oshkosh by 3.4% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 141,140 shares of the company’s stock valued at $14,144,000 after buying an additional 4,680 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group lowered their price objective on Oshkosh from $129.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Robert W. Baird lowered their price target on Oshkosh from $171.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Truist Financial boosted their price target on Oshkosh from $113.00 to $116.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price target on Oshkosh from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.62.

Oshkosh Stock Performance

NYSE:OSK opened at $91.83 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.79. Oshkosh Co. has a 1 year low of $89.08 and a 1 year high of $127.98. The stock’s 50 day simple moving average is $103.12 and its two-hundred day simple moving average is $103.77. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 0.98 and a beta of 1.21.

Oshkosh (NYSE:OSK) last released its earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.06. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.63 billion. Oshkosh had a return on equity of 19.87% and a net margin of 6.41%. As a group, equities analysts anticipate that Oshkosh Co. will post 11.35 earnings per share for the current fiscal year.

Oshkosh Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, November 15th. Oshkosh’s dividend payout ratio is currently 17.86%.

Oshkosh 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.