AllSquare Wealth Management LLC raised its position in Otis Worldwide Co. (NYSE:OTIS) by 29.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,521 shares of the company’s stock after buying an additional 346 shares during the period. AllSquare Wealth Management LLC’s holdings in Otis Worldwide were worth $103,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Amussen Hunsaker Associates LLC raised its position in shares of Otis Worldwide by 2.0% in the third quarter. Amussen Hunsaker Associates LLC now owns 7,748 shares of the company’s stock valued at $477,000 after buying an additional 153 shares during the last quarter. Parallel Advisors LLC raised its holdings in Otis Worldwide by 2.3% in the 3rd quarter. Parallel Advisors LLC now owns 7,449 shares of the company’s stock valued at $465,000 after acquiring an additional 167 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Otis Worldwide by 5.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 3,686 shares of the company’s stock worth $249,000 after purchasing an additional 174 shares during the period. OLD National Bancorp IN boosted its holdings in shares of Otis Worldwide by 2.0% during the fourth quarter. OLD National Bancorp IN now owns 9,045 shares of the company’s stock worth $611,000 after purchasing an additional 179 shares during the last quarter. Finally, Martin Investment Management LLC grew its position in shares of Otis Worldwide by 0.4% in the fourth quarter. Martin Investment Management LLC now owns 44,517 shares of the company’s stock valued at $3,007,000 after purchasing an additional 187 shares during the period. 83.76% of the stock is currently owned by institutional investors.
Shares of NYSE:OTIS traded down $0.01 during midday trading on Tuesday, reaching $63.22. The company had a trading volume of 45,212 shares, compared to its average volume of 2,960,302. The stock’s fifty day moving average price is $64.61 and its 200-day moving average price is $64.94. Otis Worldwide Co. has a one year low of $38.00 and a one year high of $68.21.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 10th. Investors of record on Friday, February 12th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, February 11th.
OTIS has been the topic of several recent analyst reports. Zacks Investment Research downgraded Otis Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, February 3rd. Cowen reissued a “buy” rating and issued a $75.00 target price on shares of Otis Worldwide in a research report on Thursday, February 4th. Finally, Credit Suisse Group upped their price target on Otis Worldwide from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Otis Worldwide presently has an average rating of “Hold” and an average target price of $65.13.
In other news, insider Fernandez Bernardo Calleja bought 500 shares of Otis Worldwide stock in a transaction on Wednesday, December 9th. The shares were bought at an average price of $65.51 per share, with a total value of $32,755.00. Following the acquisition, the insider now directly owns 1,500 shares in the company, valued at approximately $98,265. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
About Otis Worldwide
Otis Worldwide Corporation manufactures, installs, and services elevators and escalators in the United States, China, and internationally. The company operates through 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.
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