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

Oshkosh Co. (NYSE:OSK) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Monday, February 17th will be paid a dividend of 0.51 per share on Monday, March 3rd. This represents a $2.04 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, February 14th. This is a positive change from Oshkosh’s previous quarterly dividend of $0.46.

Oshkosh has raised its dividend by an average of 10.6% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Oshkosh has a dividend payout ratio of 15.0% meaning 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 Up 2.7 %

Shares of Oshkosh stock traded up $3.04 during trading on Friday, reaching $116.30. The company’s stock had a trading volume of 1,697,516 shares, compared to its average volume of 716,146. The company has a 50-day simple moving average of $99.69 and a two-hundred day simple moving average of $103.04. The company has a quick ratio of 0.79, a current ratio of 1.46 and a debt-to-equity ratio of 0.15. Oshkosh has a 1-year low of $89.08 and a 1-year high of $127.98. The company 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.

Oshkosh (NYSE:OSK) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.22 by $0.36. Oshkosh had a net margin of 6.41% and a return on equity of 19.87%. As a group, equities analysts forecast that Oshkosh will post 11.34 earnings per share for the current year.

Analysts Set New Price Targets

OSK has been the subject of a number of research analyst reports. Citigroup reduced their target price on Oshkosh from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on Oshkosh from $115.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday. Robert W. Baird dropped 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. KeyCorp raised their price target on shares of Oshkosh from $113.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Raymond James upped their price objective on shares of Oshkosh from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Oshkosh has an average rating of “Hold” and an average target price 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.