Mount Yale Investment Advisors LLC bought a new stake in Otis Worldwide Co. (NYSE:OTIS) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 4,172 shares of the company’s stock, valued at approximately $286,000.
Other institutional investors have also recently modified their holdings of the company. Sowell Financial Services LLC boosted its holdings in Otis Worldwide by 76.0% in the fourth quarter. Sowell Financial Services LLC now owns 4,894 shares of the company’s stock worth $331,000 after acquiring an additional 2,113 shares in the last quarter. Kovack Advisors Inc. bought a new position in shares of Otis Worldwide in the 4th quarter worth $202,000. Crossmark Global Holdings Inc. grew its position in Otis Worldwide by 0.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 24,907 shares of the company’s stock valued at $1,682,000 after purchasing an additional 220 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in 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 valued at $249,000 after purchasing an additional 174 shares in the last quarter. Finally, Crescent Capital Consulting LLC acquired a new position in Otis Worldwide during the fourth quarter worth $47,000. 83.76% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE OTIS opened at $78.88 on Monday. The stock’s 50 day moving average price is $72.91 and its 200-day moving average price is $67.19. Otis Worldwide Co. has a twelve month low of $47.20 and a twelve month high of $79.56.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Friday, May 21st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, May 20th.
OTIS has been the subject of several recent research reports. HSBC raised shares of Otis Worldwide from a “reduce” rating to a “hold” rating and set a $65.00 target price for the company in a research report on Monday, March 29th. Zacks Investment Research lowered Otis Worldwide from a “buy” rating to a “hold” rating in a report on Wednesday, April 28th. Berenberg Bank began coverage on Otis Worldwide in a research note on Monday, March 22nd. They issued a “buy” rating and a $85.00 price objective for the company. Barclays lifted their target price on Otis Worldwide from $66.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 27th. Finally, Cowen increased their price target on Otis Worldwide from $75.00 to $77.00 in a research report on Wednesday, March 3rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Otis Worldwide presently has an average rating of “Buy” and a consensus price target of $76.25.
In related news, insider Peiming Zheng sold 15,234 shares of the stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $78.67, for a total transaction of $1,198,458.78. Following the completion of the transaction, the insider now owns 19,022 shares in the company, valued at $1,496,460.74. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Otis Worldwide Company Profile
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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