Oshkosh (NYSE:OSK) Stock Price Down 5.3% - Here's Why

Oshkosh Co. (NYSE:OSK - Get Free Report) shares traded down 5.3% during trading on Friday . The company traded as low as $103.18 and last traded at $106.00. 790,382 shares changed hands during trading, an increase of 57% from the average session volume of 504,609 shares. The stock had previously closed at $111.88.

Analyst Upgrades and Downgrades

OSK has been the topic of several research analyst reports. Robert W. Baird cut their price objective on Oshkosh from $171.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Evercore ISI cut their price target on shares of Oshkosh from $137.00 to $119.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Oshkosh from $120.00 to $125.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, Truist Financial dropped their target price on shares of Oshkosh from $126.00 to $114.00 and set a "hold" rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $123.14.

Oshkosh Stock Performance

The company has a quick ratio of 0.79, a current ratio of 1.46 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $6.94 billion, a PE ratio of 10.35, a PEG ratio of 1.11 and a beta of 1.19. The company has a 50-day moving average price of $107.14 and a two-hundred day moving average price of $106.36.

Oshkosh (NYSE:OSK - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $0.06. Oshkosh had a return on equity of 19.87% and a net margin of 6.41%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.63 billion. Analysts predict that Oshkosh Co. will post 11.35 EPS for the current fiscal year.

Oshkosh Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Friday, November 15th. Oshkosh's dividend payout ratio is presently 17.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OSK. AE Wealth Management LLC increased its position in shares of Oshkosh by 7.3% in the second quarter. AE Wealth Management LLC now owns 1,863 shares of the company's stock worth $202,000 after purchasing an additional 127 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Oshkosh by 26.2% in the 2nd quarter. GAMMA Investing LLC now owns 733 shares of the company's stock worth $79,000 after buying an additional 152 shares during the last quarter. KBC Group NV raised its position in shares of Oshkosh by 15.2% during the 3rd quarter. KBC Group NV now owns 1,666 shares of the company's stock valued at $167,000 after buying an additional 220 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Oshkosh by 1.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 22,615 shares of the company's stock worth $2,447,000 after acquiring an additional 235 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Oshkosh in the third quarter worth $25,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Oshkosh Company 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.