Otis Worldwide Co. (NYSE:OTIS) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC increased its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,343 shares of the company’s stock after purchasing an additional 321 shares during the period. Fidelis Capital Partners LLC’s holdings in Otis Worldwide were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JB Capital LLC lifted its position in Otis Worldwide by 0.5% in the fourth quarter. JB Capital LLC now owns 26,572 shares of the company’s stock valued at $2,377,000 after acquiring an additional 129 shares during the last quarter. Baystate Wealth Management LLC lifted its position in Otis Worldwide by 16.7% in the fourth quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock valued at $86,000 after acquiring an additional 138 shares during the last quarter. Sigma Planning Corp lifted its position in Otis Worldwide by 3.5% in the third quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock valued at $336,000 after acquiring an additional 141 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Otis Worldwide by 5.2% in the first quarter. Belpointe Asset Management LLC now owns 2,857 shares of the company’s stock valued at $241,000 after acquiring an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in Otis Worldwide by 42.3% in the third quarter. Avior Wealth Management LLC now owns 481 shares of the company’s stock valued at $39,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OTIS shares. UBS Group boosted their price target on shares of Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Argus raised shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Thursday, February 22nd. Vertical Research cut shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Otis Worldwide in a report on Monday, February 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $95.00.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the transaction, the chief executive officer now 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 currently owned by company insiders.

Otis Worldwide Stock Down 0.4 %

NYSE OTIS opened at $95.12 on Friday. The stock has a market capitalization of $38.45 billion, a P/E ratio of 28.06 and a beta of 1.01. Otis Worldwide Co. has a 52-week low of $73.32 and a 52-week high of $100.35. The firm has a 50-day moving average price of $96.11 and a 200 day moving average price of $88.84.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. During the same period in the prior year, the company posted $0.75 earnings per share. On average, equities research analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.36 annualized dividend and a yield of 1.43%. Otis Worldwide’s payout ratio is currently 40.12%.

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.