Oshkosh Co. (NYSE:OSK) to Issue Dividend Increase - $0.51 Per Share

Oshkosh Co. (NYSE:OSK - Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Monday, February 17th will be given a dividend of 0.51 per share on Monday, March 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Oshkosh's previous quarterly dividend of $0.46.

Oshkosh has raised its dividend by an average of 10.6% annually over the last three years and has raised its dividend every year for the last 12 years. Oshkosh has a payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Oshkosh to earn $11.67 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 15.8%.

Oshkosh Stock Down 1.3 %

OSK traded down $1.43 during trading on Tuesday, hitting $111.42. 930,323 shares of the company's stock were exchanged, compared to its average volume of 755,406. Oshkosh has a fifty-two week low of $89.08 and a fifty-two week high of $127.98. The stock has a market cap of $7.25 billion, a P/E ratio of 10.77, a PEG ratio of 1.97 and a beta of 1.22. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.14. The business's 50 day moving average is $99.71 and its two-hundred day moving average is $103.00.

Oshkosh (NYSE:OSK - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.36. Oshkosh had a return on equity of 19.31% and a net margin of 6.34%. As a group, equities analysts expect that Oshkosh will post 11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OSK. Robert W. Baird decreased their target price on shares of Oshkosh from $171.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Citigroup cut their target price on Oshkosh from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Truist Financial raised their price objective on Oshkosh from $109.00 to $118.00 and gave the company a "hold" rating in a research note on Friday. UBS Group lifted their target price on shares of Oshkosh from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday. Finally, KeyCorp upped their price target on Oshkosh from $113.00 to $132.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $125.00.

About Oshkosh

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.