Metropolitan Life Insurance Co NY Reduces Stake in Oshkosh Corp (NYSE:OSK)

Metropolitan Life Insurance Co NY cut its stake in Oshkosh Corp (NYSE:OSK) by 4.5% in the third quarter, Holdings Channel reports. The fund owned 19,075 shares of the company’s stock after selling 908 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Oshkosh were worth $1,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Personal Wealth Partners acquired a new position in shares of Oshkosh during the 2nd quarter valued at about $25,000. Executive Wealth Management LLC grew its holdings in shares of Oshkosh by 70.6% in the third quarter. Executive Wealth Management LLC now owns 343 shares of the company’s stock valued at $26,000 after purchasing an additional 142 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Oshkosh in the third quarter valued at about $39,000. Pearl River Capital LLC acquired a new stake in Oshkosh during the second quarter worth about $45,000. Finally, NEXT Financial Group Inc acquired a new stake in Oshkosh during the second quarter worth about $54,000. 89.72% of the stock is owned by institutional investors and hedge funds.

Shares of OSK opened at $89.68 on Friday. The firm has a market cap of $6.09 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 0.92 and a beta of 2.00. Oshkosh Corp has a 12-month low of $56.47 and a 12-month high of $92.63. The company’s 50-day moving average price is $86.95 and its 200 day moving average price is $79.17. The company has a current ratio of 1.96, a quick ratio of 1.24 and a debt-to-equity ratio of 0.32.

Oshkosh (NYSE:OSK) last posted its earnings results on Wednesday, October 30th. The company reported $2.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.29. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Oshkosh had a net margin of 6.91% and a return on equity of 23.21%. Oshkosh’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.80 earnings per share. Equities research analysts forecast that Oshkosh Corp will post 7.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Oshkosh’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, November 15th. Oshkosh’s payout ratio is 14.44%.

In related news, CEO Wilson R. Jones sold 19,400 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $86.53, for a total transaction of $1,678,682.00. Following the completion of the transaction, the chief executive officer now owns 209,401 shares of the company’s stock, valued at approximately $18,119,468.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John J. Bryant sold 10,036 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $89.39, for a total transaction of $897,118.04. Following the transaction, the executive vice president now directly owns 15,559 shares of the company’s stock, valued at approximately $1,390,819.01. The disclosure for this sale can be found here. Insiders sold a total of 94,160 shares of company stock worth $8,288,319 over the last three months. Insiders own 1.90% of the company’s stock.

OSK has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Oshkosh from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $90.00 in a research note on Wednesday, September 11th. Longbow Research cut shares of Oshkosh from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Buckingham Research upgraded shares of Oshkosh from a “neutral” rating to a “buy” rating and raised their price target for the stock from $96.00 to $105.00 in a report on Monday, November 11th. Robert W. Baird upgraded shares of Oshkosh from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $101.00 in a report on Thursday, October 24th. Finally, Dougherty & Co initiated coverage on shares of Oshkosh in a research report on Wednesday, August 28th. They set a “buy” rating and a $80.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $90.00.

About Oshkosh

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.

See Also: 52 Week Highs

Want to see what other hedge funds are holding OSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oshkosh Corp (NYSE:OSK).

Institutional Ownership by Quarter for Oshkosh (NYSE:OSK)

Receive News & Ratings for Oshkosh Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oshkosh and related companies with MarketBeat.com's FREE daily email newsletter.