Oshkosh Corp (NYSE:OSK) Short Interest Update
Oshkosh Corp (NYSE:OSK) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,960,000 shares, a decrease of 34.0% from the September 30th total of 2,970,000 shares. Based on an average daily volume of 565,900 shares, the short-interest ratio is currently 3.5 days. Approximately 2.9% of the company’s stock are short sold.
In other news, CEO Wilson R. Jones sold 19,400 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $86.53, for a total value of $1,678,682.00. Following the transaction, the chief executive officer now owns 209,401 shares in the company, valued at approximately $18,119,468.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Sagehorn sold 34,600 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $86.71, for a total value of $3,000,166.00. Following the completion of the transaction, the chief financial officer now owns 190,575 shares in the company, valued at approximately $16,524,758.25. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock worth $5,644,322 in the last quarter. 1.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in OSK. Personal Wealth Partners bought a new stake in Oshkosh during the second quarter worth approximately $25,000. Executive Wealth Management LLC boosted its position in Oshkosh by 70.6% during the third quarter. Executive Wealth Management LLC now owns 343 shares of the company’s stock worth $26,000 after purchasing an additional 142 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Oshkosh during the third quarter worth approximately $39,000. Pearl River Capital LLC bought a new stake in Oshkosh during the second quarter worth approximately $45,000. Finally, Machina Capital S.A.S. boosted its position in Oshkosh by 255.9% during the second quarter. Machina Capital S.A.S. now owns 573 shares of the company’s stock worth $48,000 after purchasing an additional 412 shares during the period. 90.14% of the stock is owned by hedge funds and other institutional investors.
Oshkosh (NYSE:OSK) last announced its earnings results on Wednesday, October 30th. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.29. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Oshkosh had a return on equity of 23.21% and a net margin of 6.91%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. As a group, research analysts forecast that Oshkosh will post 7.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.32%. This is a boost from Oshkosh’s previous quarterly dividend of $0.27. Oshkosh’s dividend payout ratio is presently 13.00%.
Several equities research analysts recently commented on OSK shares. Goldman Sachs Group raised Oshkosh from a “sell” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $90.00 in a research note on Friday, November 8th. Dougherty & Co started coverage on Oshkosh in a research note on Wednesday, August 28th. They issued a “buy” rating and a $80.00 price target for the company. Royal Bank of Canada boosted their price target on Oshkosh to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Robert W. Baird raised Oshkosh from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $74.00 to $101.00 in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised Oshkosh from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $90.00 in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $90.00.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.
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