Otis Worldwide Co. (NYSE:OTIS) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC increased its holdings in Otis Worldwide Co. (NYSE:OTIS) by 88.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,753 shares of the company’s stock after buying an additional 823 shares during the quarter. Larson Financial Group LLC’s holdings in Otis Worldwide were worth $157,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Otis Worldwide by 54.5% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock valued at $544,000 after acquiring an additional 2,390 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Otis Worldwide by 13,638.0% in the fourth quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock valued at $13,570,000 after purchasing an additional 150,563 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Otis Worldwide by 176.4% in the fourth quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock valued at $10,378,000 after purchasing an additional 74,030 shares during the last quarter. Smith Salley & Associates acquired a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $1,113,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Otis Worldwide by 29.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 135,428 shares of the company’s stock valued at $12,117,000 after purchasing an additional 30,530 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock opened at $93.37 on Thursday. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $100.35. The stock has a 50 day moving average of $96.41 and a 200 day moving average of $89.24. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of 27.54 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. Analysts forecast that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s payout ratio is currently 40.12%.

Insider Activity

In other news, insider Montlivault Stephane De sold 18,393 shares of the 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 sale, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction 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 $6,128,661.40. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OTIS. Barclays increased their price target on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a report on Monday, February 5th. Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Thursday, February 22nd. Wells Fargo & Company cut their price target on 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, UBS Group increased their price objective on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Five equities research 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 company currently has an average rating of “Hold” and an average target price of $95.00.

Otis Worldwide Company 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.