Convergence Investment Partners LLC Makes New $1.16 Million Investment in Oshkosh Corporation $OSK

Convergence Investment Partners LLC bought a new stake in shares of Oshkosh Corporation (NYSE:OSK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,960 shares of the company’s stock, valued at approximately $1,162,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in shares of Oshkosh in the third quarter valued at approximately $26,000. Blue Trust Inc. boosted its holdings in Oshkosh by 471.1% in the 3rd quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. SJS Investment Consulting Inc. grew its position in shares of Oshkosh by 3,014.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 218 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Oshkosh by 69.1% in the second quarter. Whittier Trust Co. now owns 279 shares of the company’s stock worth $32,000 after purchasing an additional 114 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of Oshkosh in the third quarter worth $35,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OSK has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Oshkosh in a research report on Thursday, January 22nd. Citigroup cut their price objective on Oshkosh from $175.00 to $170.00 and set a “buy” rating for the company in a report on Monday. Argus lowered their target price on shares of Oshkosh from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Robert W. Baird set a $182.00 price target on shares of Oshkosh in a report on Friday. Finally, Sanford C. Bernstein raised their price objective on shares of Oshkosh from $132.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, December 19th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.27.

Oshkosh Price Performance

Shares of Oshkosh stock opened at $149.55 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.94. Oshkosh Corporation has a 52-week low of $76.82 and a 52-week high of $158.53. The company has a fifty day moving average of $137.43 and a 200-day moving average of $133.95. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43.

Oshkosh (NYSE:OSK) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.07). Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts expect that Oshkosh Corporation will post 10.96 EPS for the current year.

Oshkosh Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a $0.57 dividend. The ex-dividend date is Tuesday, February 17th. This is an increase from Oshkosh’s previous quarterly dividend of $0.51. This represents a $2.28 annualized dividend and a yield of 1.5%. Oshkosh’s dividend payout ratio is presently 20.36%.

Oshkosh Profile

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.