Hsbc Holdings PLC Sells 51,569 Shares of Oshkosh Corporation $OSK

Hsbc Holdings PLC trimmed its stake in shares of Oshkosh Corporation (NYSE:OSK) by 92.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,272 shares of the company’s stock after selling 51,569 shares during the quarter. Hsbc Holdings PLC’s holdings in Oshkosh were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Oshkosh by 0.4% in the first quarter. Principal Financial Group Inc. now owns 149,716 shares of the company’s stock worth $14,085,000 after purchasing an additional 553 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Oshkosh in the first quarter worth approximately $263,000. DAVENPORT & Co LLC increased its holdings in Oshkosh by 5.6% in the first quarter. DAVENPORT & Co LLC now owns 6,040 shares of the company’s stock worth $568,000 after purchasing an additional 319 shares in the last quarter. True North Advisors LLC bought a new stake in Oshkosh in the first quarter worth approximately $807,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Oshkosh by 17.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,577 shares of the company’s stock worth $713,000 after purchasing an additional 1,146 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on Oshkosh from $90.00 to $103.00 and gave the stock an “underperform” rating in a report on Friday, June 6th. Citigroup reiterated a “buy” rating and issued a $130.00 target price (up from $125.00) on shares of Oshkosh in a report on Tuesday, June 24th. KeyCorp lifted their target price on Oshkosh from $140.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. DA Davidson set a $160.00 target price on Oshkosh and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, UBS Group set a $164.00 target price on Oshkosh and gave the stock a “buy” rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.08.

Oshkosh Stock Down 1.4%

Shares of NYSE:OSK opened at $137.48 on Wednesday. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.73 and a beta of 1.49. The company has a quick ratio of 0.92, a current ratio of 1.84 and a debt-to-equity ratio of 0.25. Oshkosh Corporation has a 12-month low of $76.82 and a 12-month high of $144.30. The business’s 50 day moving average is $130.35 and its 200 day moving average is $108.55.

Oshkosh (NYSE:OSK) last announced its earnings results on Friday, August 1st. The company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.43. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Oshkosh had a return on equity of 16.70% and a net margin of 6.25%.Oshkosh’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.34 earnings per share. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. On average, sell-side analysts forecast that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. Oshkosh’s payout ratio is presently 20.48%.

Insider Activity at Oshkosh

In related news, CMO Bryan K. Brandt sold 1,732 shares of Oshkosh stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $140.37, for a total transaction of $243,120.84. Following the transaction, the chief marketing officer owned 10,459 shares of the company’s stock, valued at $1,468,129.83. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Anupam Khare sold 4,000 shares of Oshkosh stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $139.03, for a total value of $556,120.00. Following the transaction, the senior vice president directly owned 13,716 shares in the company, valued at approximately $1,906,935.48. The trade was a 22.58% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

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.