Oshkosh Co. (NYSE:OSK) Increases Dividend to $0.51 Per Share

Oshkosh Co. (NYSE:OSK) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, February 14th. This is an increase from Oshkosh’s previous quarterly dividend of $0.46.

Oshkosh has increased its dividend by an average of 10.6% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Oshkosh has a dividend payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oshkosh to earn $10.36 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 17.8%.

Oshkosh Stock Performance

Oshkosh stock traded up $3.04 during mid-day trading on Friday, hitting $116.30. 1,697,445 shares of the company’s stock traded hands, compared to its average volume of 716,142. The firm has a 50 day simple moving average of $99.69 and a two-hundred day simple moving average of $103.04. 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 $7.57 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.79.

Oshkosh (NYSE:OSK) last announced its quarterly 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 19.87% and a net margin of 6.41%. On average, research analysts expect that Oshkosh will post 11.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on OSK shares. Raymond James raised their price target on Oshkosh from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup decreased their price target on Oshkosh from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on Oshkosh from $115.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday. Robert W. Baird decreased their target price on Oshkosh from $171.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Truist Financial lifted their target price on Oshkosh from $109.00 to $118.00 and gave the company a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.36.

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.