iSAM Funds UK Ltd Sells 5,024 Shares of Otis Worldwide Co. (NYSE:OTIS)

iSAM Funds UK Ltd decreased its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 50.9% in the 3rd quarter, Holdings Channel reports. The fund owned 4,843 shares of the company’s stock after selling 5,024 shares during the quarter. iSAM Funds UK Ltd’s holdings in Otis Worldwide were worth $503,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in OTIS. OLD National Bancorp IN grew its stake in shares of Otis Worldwide by 13.7% during the 2nd quarter. OLD National Bancorp IN now owns 3,610 shares of the company’s stock worth $347,000 after acquiring an additional 436 shares during the period. Czech National Bank grew its stake in shares of Otis Worldwide by 8.0% during the 2nd quarter. Czech National Bank now owns 77,048 shares of the company’s stock worth $7,417,000 after acquiring an additional 5,708 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Otis Worldwide by 17.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,445 shares of the company’s stock worth $909,000 after acquiring an additional 1,391 shares during the period. Wedmont Private Capital grew its stake in shares of Otis Worldwide by 3.1% during the 2nd quarter. Wedmont Private Capital now owns 6,491 shares of the company’s stock worth $650,000 after acquiring an additional 195 shares during the period. Finally, Meyer Handelman Co. boosted its stake in Otis Worldwide by 1.6% in the 2nd quarter. Meyer Handelman Co. now owns 103,276 shares of the company’s stock worth $9,941,000 after purchasing an additional 1,670 shares during the period. Institutional investors own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OTIS. Wells Fargo & Company reduced their target price on Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Barclays lowered Otis Worldwide from an “equal weight” rating to an “underweight” rating and set a $94.00 target price for the company. in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a report on Thursday, September 19th. UBS Group began coverage on Otis Worldwide in a report on Wednesday, November 13th. They set a “neutral” rating and a $113.00 target price for the company. Finally, Morgan Stanley began coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and a consensus price target of $104.57.

Insider Buying and Selling

In related news, EVP Abbe Luersman sold 9,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 9,992 shares in the company, valued at $1,009,391.84. The trade was a 47.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Otis Worldwide Trading Up 0.7 %

Shares of NYSE OTIS opened at $99.80 on Friday. Otis Worldwide Co. has a 12 month low of $85.42 and a 12 month high of $106.33. The firm has a market capitalization of $39.87 billion, a price-to-earnings ratio of 24.89 and a beta of 1.04. The business has a 50-day moving average of $101.91 and a 200-day moving average of $97.93.

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

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, November 15th. Otis Worldwide’s payout ratio is 38.90%.

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.