J.W. Cole Advisors Inc. lifted its position in shares of Otis Worldwide Co. (NYSE:OTIS – Free Report) by 12.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,047 shares of the company’s stock after buying an additional 546 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Otis Worldwide were worth $452,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $28,000. Orion Capital Management LLC bought a new position in shares of Otis Worldwide in the third quarter worth $30,000. NBC Securities Inc. bought a new position in shares of Otis Worldwide in the third quarter worth $33,000. CNB Bank increased its position in shares of Otis Worldwide by 81.0% in the third quarter. CNB Bank now owns 429 shares of the company’s stock worth $34,000 after purchasing an additional 192 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in shares of Otis Worldwide in the third quarter worth $36,000. Institutional investors and hedge funds own 88.03% of the company’s stock.
Otis Worldwide Trading Up 1.2 %
NYSE:OTIS opened at $97.47 on Wednesday. The stock has a market cap of $39.40 billion, a P/E ratio of 28.75 and a beta of 1.01. The stock’s 50-day moving average is $96.36 and its 200-day moving average is $89.21. Otis Worldwide Co. has a 1-year low of $73.32 and a 1-year high of $100.35.
Otis Worldwide Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Thursday, February 15th. Otis Worldwide’s dividend payout ratio is currently 40.12%.
Insider Buying and Selling
In related news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the transaction, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the transaction, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the transaction, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently commented on OTIS shares. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Thursday, February 22nd. Wells Fargo & Company decreased their target price on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, Barclays lifted their target price on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.00.
Read Our Latest Research Report on OTIS
Otis Worldwide Company Profile
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.
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