1 week Ago By ABMN Staff
National Bank of Canada FI grew its stake in Otis Worldwide Co. ( NYSE:OTIS – Free Report ) by 14.7% during the second quarter, according to the company in its most recent 13F filing with the SEC.
The institutional investor owned 190,895 shares of the company’s stock after purchasing an additional 24,485 shares during the quarter. National Bank of Canada FI’s holdings in Otis Worldwide were worth $18,113,000 as of its most recent filing with the SEC. A number of other institutional investors have also modified their holdings of OTIS.
Spire Wealth Management raised its stake in Otis Worldwide by 19.0% during the 4th quarter. Spire Wealth Management now owns 932 shares of the company’s stock valued at $82,000 after acquiring an additional 149 shares in the last quarter.
Private Advisor Group LLC lifted its holdings in shares of Otis Worldwide by 2.5% in the fourth quarter. Private Advisor Group LLC now owns 27,740 shares of the company’s stock valued at $2,482,000 after purchasing an additional 683 shares in the last quarter.
Lincoln National Corp boosted its position in shares of Otis Worldwide by 34.5% in the fourth quarter. Lincoln National Corp now owns 5,253 shares of the company’s stock worth $470,000 after buying an additional 1,347 shares during the period.
Apollon Wealth Management LLC grew its holdings in shares of Otis Worldwide by 10.9% during the fourth quarter. Apollon Wealth Management LLC now owns 4,843 shares of the company’s stock valued at $433,000 after buying an additional 475 shares in the last quarter.
Finally, Principal Securities Inc. acquired a new position in Otis Worldwide during the fourth quarter valued at $945,000. Institutional investors and hedge funds own 88.
03% of the company’s stock. Wall Street Analyst Weigh In A number of equities research analysts have commented on the company. Wells Fargo & Company lowered their target price on Otis Worldwide from $100.
00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Morgan Stanley assumed coverage on shares of Otis Worldwide in a research report on Friday.
They set an “equal weight” rating and a $97.00 price objective on the stock. Finally, Argus lifted their target price on shares of Otis Worldwide from $102.
00 to $108.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company.
Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.57. Otis Worldwide Stock Performance NYSE:OTIS opened at $91.
43 on Friday. The stock’s 50 day moving average price is $94.84 and its 200 day moving average price is $95.
94. Otis Worldwide Co. has a 52 week low of $73.
32 and a 52 week high of $100.84. The company has a market capitalization of $36.
97 billion, a P/E ratio of 26.42 and a beta of 1.03.
Otis Worldwide ( NYSE:OTIS – Get Free Report ) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.
03 by $0.03. Otis Worldwide had a negative return on equity of 31.
65% and a net margin of 10.35%. The firm had revenue of $3.
60 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the company posted $0.
92 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis.
As a group, sell-side analysts forecast that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.
Otis Worldwide Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a $0.39 dividend.
The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.56 dividend on an annualized basis and a yield of 1.
71%. Otis Worldwide’s dividend payout ratio is currently 45.09%.
Otis Worldwide Profile ( Free Report ) 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.
Read More Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Co. ( NYSE:OTIS – Free Report ).
Receive News & Ratings for Otis Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otis Worldwide and related companies with MarketBeat.com's FREE daily email newsletter ..
