Otis Worldwide Co. (NYSE:OTIS) Holdings Decreased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,259 shares of the company’s stock after selling 2,806 shares during the period. Nisa Investment Advisors LLC’s holdings in Otis Worldwide were worth $12,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Hancock Whitney Corp boosted its stake in shares of Otis Worldwide by 4.6% during the 1st quarter. Hancock Whitney Corp now owns 2,549 shares of the company’s stock valued at $253,000 after buying an additional 111 shares during the period. Bleakley Financial Group LLC boosted its position in Otis Worldwide by 1.2% during the first quarter. Bleakley Financial Group LLC now owns 9,726 shares of the company’s stock valued at $965,000 after purchasing an additional 117 shares during the last quarter. Brighton Jones LLC grew its stake in Otis Worldwide by 5.0% in the second quarter. Brighton Jones LLC now owns 2,580 shares of the company’s stock valued at $248,000 after purchasing an additional 124 shares in the last quarter. Park Avenue Securities LLC increased its position in Otis Worldwide by 0.9% in the 2nd quarter. Park Avenue Securities LLC now owns 14,931 shares of the company’s stock worth $1,437,000 after purchasing an additional 127 shares during the last quarter. Finally, Clearstead Trust LLC raised its stake in shares of Otis Worldwide by 15.3% during the 1st quarter. Clearstead Trust LLC now owns 1,018 shares of the company’s stock worth $101,000 after purchasing an additional 135 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley initiated coverage on Otis Worldwide in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Wells Fargo & Company lifted their target price on shares of Otis Worldwide from $95.00 to $108.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Barclays lifted their price objective on shares of Otis Worldwide from $90.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Otis Worldwide currently has an average rating of “Hold” and a consensus target price of $102.71.

Otis Worldwide Trading Down 3.1 %

Shares of Otis Worldwide stock opened at $98.25 on Thursday. The firm has a fifty day simple moving average of $98.92 and a 200-day simple moving average of $96.86. The stock has a market capitalization of $39.35 billion, a price-to-earnings ratio of 28.40 and a beta of 1.03. Otis Worldwide Co. has a 1-year low of $76.22 and a 1-year high of $106.33.

About Otis Worldwide

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.