Otis Worldwide Co. (NYSE:OTIS) Shares Purchased by J. Stern & Co. LLP

J. Stern & Co. LLP grew its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 391,709 shares of the company’s stock after acquiring an additional 13,096 shares during the quarter. Otis Worldwide comprises 4.3% of J. Stern & Co. LLP’s portfolio, making the stock its 12th biggest position. J. Stern & Co. LLP owned about 0.10% of Otis Worldwide worth $40,714,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Hancock Whitney Corp increased its holdings in Otis Worldwide by 4.6% in the 1st quarter. Hancock Whitney Corp now owns 2,549 shares of the company’s stock valued at $253,000 after purchasing an additional 111 shares in the last quarter. Optas LLC grew its stake in Otis Worldwide by 2.2% during the 3rd quarter. Optas LLC now owns 5,522 shares of the company’s stock valued at $574,000 after purchasing an additional 118 shares in the last quarter. Brighton Jones LLC raised its position in shares of Otis Worldwide by 5.0% in the 2nd quarter. Brighton Jones LLC now owns 2,580 shares of the company’s stock valued at $248,000 after purchasing an additional 124 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Otis Worldwide by 0.9% during the second quarter. Park Avenue Securities LLC now owns 14,931 shares of the company’s stock worth $1,437,000 after buying an additional 127 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its stake in shares of Otis Worldwide by 4.6% in the second quarter. Resonant Capital Advisors LLC now owns 3,426 shares of the company’s stock worth $330,000 after buying an additional 150 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Stock Down 0.6 %

Otis Worldwide stock traded down $0.61 during trading hours on Tuesday, hitting $101.85. 56,842 shares of the company traded hands, compared to its average volume of 2,103,558. The firm’s 50-day simple moving average is $101.34 and its two-hundred day simple moving average is $97.66. The firm has a market cap of $40.69 billion, a P/E ratio of 25.56 and a beta of 1.04. Otis Worldwide Co. has a 1-year low of $83.99 and a 1-year high of $106.33.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. Otis Worldwide’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. On average, equities research analysts predict that Otis Worldwide Co. will post 3.85 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 1.53%. Otis Worldwide’s dividend payout ratio (DPR) is 38.90%.

Insider Buying and Selling at Otis Worldwide

In related news, EVP Abbe Luersman sold 9,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total value of $909,180.00. Following the completion of the transaction, the executive vice president now owns 9,992 shares in the company, valued at $1,009,391.84. This trade represents a 47.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OTIS has been the topic of several research reports. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Morgan Stanley started coverage on Otis Worldwide in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $110.00 price objective on shares of Otis Worldwide in a research note on Thursday, September 19th. Barclays cut their target price on Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, UBS Group initiated coverage on shares of Otis Worldwide in a research report on Wednesday, November 13th. They set a “neutral” rating and a $113.00 price target for the company. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.57.

About Otis Worldwide

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.