Oshkosh Corporation (NYSE:OSK) Sees Significant Decline in Short Interest

Oshkosh Corporation (NYSE:OSK) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,964,358 shares, a drop of 15.9% from the February 26th total of 2,335,552 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 678,244 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Ratings Changes

OSK has been the subject of a number of recent research reports. Zacks Research raised shares of Oshkosh from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Raymond James Financial restated an “outperform” rating and issued a $175.00 price objective on shares of Oshkosh in a report on Monday, March 2nd. DA Davidson raised their target price on shares of Oshkosh from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Morgan Stanley dropped their price target on Oshkosh from $155.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 3rd. Finally, Wall Street Zen upgraded Oshkosh from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.31.

Insider Activity at Oshkosh

In other news, SVP Anupam Khare sold 4,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $169.07, for a total transaction of $676,280.00. Following the sale, the senior vice president owned 13,577 shares in the company, valued at approximately $2,295,463.39. The trade was a 22.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in Oshkosh in the 3rd quarter worth about $26,000. Blue Trust Inc. raised its position in Oshkosh by 471.1% in the 3rd quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in 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 acquiring an additional 211 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of Oshkosh during the 3rd quarter valued at about $29,000. Finally, Torren Management LLC purchased a new stake in shares of Oshkosh during the 4th quarter valued at about $30,000. 92.36% of the stock is owned by institutional investors.

Oshkosh Stock Down 0.1%

NYSE:OSK opened at $140.19 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.94. The firm has a market cap of $8.77 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.72 and a beta of 1.37. Oshkosh has a fifty-two week low of $76.82 and a fifty-two week high of $180.49. The firm has a 50-day simple moving average of $158.71 and a two-hundred day simple moving average of $140.98.

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

Oshkosh Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.57 per share. The ex-dividend date was Tuesday, February 17th. This represents a $2.28 annualized dividend and a yield of 1.6%. This is a positive change from Oshkosh’s previous quarterly dividend of $0.51. Oshkosh’s dividend payout ratio (DPR) is 22.75%.

About Oshkosh

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.