Retirement Systems of Alabama Has $8.73 Million Stake in Oshkosh Co. (NYSE:OSK)

Retirement Systems of Alabama reduced its holdings in Oshkosh Co. (NYSE:OSK) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,720 shares of the company’s stock after selling 1,423 shares during the period. Retirement Systems of Alabama owned about 0.12% of Oshkosh worth $8,734,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of Oshkosh by 408.8% during the fourth quarter. Franklin Resources Inc. now owns 64,407 shares of the company’s stock worth $6,982,000 after purchasing an additional 51,748 shares during the period. SG Americas Securities LLC purchased a new position in shares of Oshkosh during the 2nd quarter valued at $1,500,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Oshkosh during the first quarter worth $1,507,000. Dimensional Fund Advisors LP boosted its position in Oshkosh by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,747,710 shares of the company’s stock valued at $189,473,000 after purchasing an additional 122,786 shares during the last quarter. Finally, M&G Plc purchased a new position in Oshkosh in the first quarter valued at about $15,102,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OSK. Jefferies Financial Group cut their price target on Oshkosh from $135.00 to $105.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Raymond James started coverage on shares of Oshkosh in a research note on Friday, June 28th. They set an “outperform” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Oshkosh from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird raised their target price on Oshkosh from $158.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Finally, Citigroup initiated coverage on shares of Oshkosh in a report on Wednesday, June 26th. They set a “buy” rating and a $130.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $125.07.

Oshkosh Stock Performance

Shares of NYSE:OSK opened at $107.00 on Friday. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The business’s fifty day moving average price is $105.94 and its two-hundred day moving average price is $112.33. Oshkosh Co. has a fifty-two week low of $86.10 and a fifty-two week high of $127.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.44 and a quick ratio of 0.81.

Oshkosh (NYSE:OSK) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.34. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Oshkosh had a net margin of 6.58% and a return on equity of 20.83%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $2.69 EPS. As a group, analysts predict that Oshkosh Co. will post 11.67 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, August 16th. Oshkosh’s payout ratio is currently 17.61%.

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.