Otis Worldwide Co. (NYSE:OTIS) Shares Acquired by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC increased its holdings in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 34.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 878 shares of the company’s stock after purchasing an additional 227 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Otis Worldwide were worth $79,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Mackenzie Financial Corp boosted its position in Otis Worldwide by 2.9% during the 3rd quarter. Mackenzie Financial Corp now owns 35,204 shares of the company’s stock worth $2,795,000 after purchasing an additional 1,000 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Otis Worldwide by 4.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,395 shares of the company’s stock valued at $5,412,000 after buying an additional 2,802 shares in the last quarter. Advisor Partners II LLC raised its holdings in shares of Otis Worldwide by 5.3% during the 3rd quarter. Advisor Partners II LLC now owns 14,499 shares of the company’s stock valued at $1,164,000 after buying an additional 735 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Otis Worldwide by 9.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,866 shares of the company’s stock worth $3,041,000 after acquiring an additional 3,347 shares in the last quarter. Finally, Choate Investment Advisors boosted its holdings in Otis Worldwide by 4.7% in the 3rd quarter. Choate Investment Advisors now owns 5,229 shares of the company’s stock worth $420,000 after acquiring an additional 233 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS traded up $0.97 during mid-day trading on Friday, hitting $97.10. The stock had a trading volume of 2,485,697 shares, compared to its average volume of 1,989,932. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $100.35. The company’s 50 day moving average is $96.46 and its 200-day moving average is $90.42. The company has a market cap of $39.26 billion, a PE ratio of 28.06 and a beta of 1.03.

Otis Worldwide (NYSE:OTISGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.44 billion. On average, equities research analysts predict that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, May 16th. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio (DPR) is 39.31%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Argus raised shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Thursday, February 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Otis Worldwide in a research report on Monday, February 5th. JPMorgan Chase & Co. increased their price target on shares of Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Melius initiated coverage on Otis Worldwide in a report on Tuesday, April 2nd. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.86.

View Our Latest Stock Analysis on OTIS

Insiders Place Their Bets

In other Otis Worldwide news, EVP Peiming Zheng sold 30,364 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.69, for a total value of $2,844,803.16. Following the completion of the sale, the executive vice president now directly owns 15,570 shares of the company’s stock, valued at approximately $1,458,753.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peiming Zheng sold 30,364 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.69, for a total transaction of $2,844,803.16. Following the completion of the sale, the executive vice president now directly owns 15,570 shares in the company, valued at approximately $1,458,753.30. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Otis Worldwide Company 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.

Featured Stories

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:OTISFree Report).

Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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.