Criterion Capital Advisors LLC Acquires Shares of 550 Otis Worldwide Co. (NYSE:OTIS)

Criterion Capital Advisors LLC purchased a new position in Otis Worldwide Co. (NYSE:OTIS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 550 shares of the company’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Otis Worldwide by 8.6% during the 1st quarter. American Century Companies Inc. now owns 7,817 shares of the company’s stock valued at $601,000 after purchasing an additional 620 shares during the last quarter. Cibc World Market Inc. boosted its holdings in Otis Worldwide by 3.0% in the 1st quarter. Cibc World Market Inc. now owns 11,669 shares of the company’s stock worth $898,000 after buying an additional 338 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Otis Worldwide by 7.7% during the 1st quarter. Moors & Cabot Inc. now owns 6,574 shares of the company’s stock worth $506,000 after purchasing an additional 469 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Otis Worldwide by 25.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,536 shares of the company’s stock worth $272,000 after purchasing an additional 715 shares during the last quarter. Finally, Brighton Jones LLC raised its position in shares of Otis Worldwide by 5.0% during the 1st quarter. Brighton Jones LLC now owns 3,876 shares of the company’s stock valued at $298,000 after buying an additional 183 shares during the period. Institutional investors own 88.03% of the company’s stock.

Insider Activity at Otis Worldwide

In related news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the sale, the insider now owns 67,274 shares in the company, valued at approximately $6,128,661.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the completion of the transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at approximately $17,660,653.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Otis Worldwide Trading Down 0.4 %

OTIS stock traded down $0.38 during trading on Friday, reaching $95.11. The stock had a trading volume of 2,339,698 shares, compared to its average volume of 1,491,749. Otis Worldwide Co. has a 1-year low of $73.32 and a 1-year high of $100.35. The company has a market capitalization of $38.44 billion, a P/E ratio of 28.06 and a beta of 1.01. The firm has a fifty day moving average price of $96.11 and a 200 day moving average price of $88.90.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. Sell-side analysts predict that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have commented on OTIS. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a research note on Monday, February 5th. Barclays raised their price objective on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Melius assumed coverage on Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating on the stock. Argus upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Thursday, February 22nd. Finally, Vertical Research downgraded shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.00.

Otis Worldwide 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.