Flputnam Investment Management Co. Sells 118 Shares of Otis Worldwide Co. (NYSE:OTIS)

Flputnam Investment Management Co. reduced its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,947 shares of the company’s stock after selling 118 shares during the quarter. Flputnam Investment Management Co.’s holdings in Otis Worldwide were worth $353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. grew its position 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 acquiring an additional 620 shares during the period. Cibc World Market Inc. increased its position in Otis Worldwide by 3.0% in the first 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. raised its stake in shares of Otis Worldwide by 7.7% in the first quarter. Moors & Cabot Inc. now owns 6,574 shares of the company’s stock valued at $506,000 after buying an additional 469 shares during the period. Sequoia Financial Advisors LLC lifted its position 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 valued at $272,000 after buying an additional 715 shares during the last quarter. Finally, Brighton Jones LLC grew its stake 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 worth $298,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $95.49 on Friday. The company has a 50 day simple moving average of $96.03 and a two-hundred day simple moving average of $88.73. The firm has a market cap of $38.60 billion, a PE ratio of 28.17 and a beta of 1.01. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.35.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.75 EPS. As a group, research analysts anticipate that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 40.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OTIS shares. Melius assumed coverage on shares of Otis Worldwide in a research note on Tuesday, April 2nd. They issued a “hold” rating for the company. Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Thursday, February 22nd. Barclays lifted their price target on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company dropped their price objective on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.29.

Insider Activity at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the sale, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Montlivault Stephane De sold 18,393 shares of the firm’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 transaction, the insider now 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 can be accessed through the SEC website. Also, 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 transaction of $3,426,360.96. Following the completion of the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at approximately $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

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.