Otis Worldwide Co. (NYSE:OTIS) Stock Position Raised by Lindbrook Capital LLC

Lindbrook Capital LLC lifted its stake in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,892 shares of the company’s stock after acquiring an additional 710 shares during the quarter. Lindbrook Capital LLC’s holdings in Otis Worldwide were worth $527,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Otis Worldwide by 54.5% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock valued at $544,000 after purchasing an additional 2,390 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Otis Worldwide by 13,638.0% during the fourth quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after acquiring an additional 150,563 shares in the last quarter. SG Americas Securities LLC boosted its position in Otis Worldwide by 176.4% during 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 Otis Worldwide during the fourth quarter valued at $1,113,000. Finally, Assenagon Asset Management S.A. boosted its position in Otis Worldwide by 29.1% during 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. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Otis Worldwide stock opened at $95.11 on Monday. The business’s 50-day simple moving average is $96.11 and its 200-day simple moving average is $88.97. The firm has a market capitalization of $38.44 billion, a PE 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.

Otis Worldwide (NYSE:OTISGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. During the same period in the previous year, the company posted $0.75 earnings per share. Research analysts forecast that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.43%. Otis Worldwide’s payout ratio is presently 40.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OTIS shares. Wells Fargo & Company reduced their price objective on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a research report on Thursday, February 1st. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Otis Worldwide in a research report on Monday, February 5th. UBS Group lifted their price objective on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, Melius began coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Check Out Our Latest Stock Report on OTIS

Insider Transactions at Otis Worldwide

In related news, insider Montlivault Stephane De sold 18,393 shares of the business’s 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 transaction, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Montlivault Stephane De sold 18,393 shares of the business’s 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 transaction, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction dated 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 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 corporate insiders.

Otis Worldwide Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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