Radnor Capital Management LLC Has $496,000 Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Radnor Capital Management LLC boosted its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,776 shares of the company’s stock after acquiring an additional 224 shares during the quarter. Radnor Capital Management LLC’s holdings in Otis Worldwide were worth $496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OTIS. Riverview Trust Co acquired a new position in shares of Otis Worldwide during the 3rd quarter worth about $25,000. Meeder Asset Management Inc. grew its position in Otis Worldwide by 264.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock worth $26,000 after acquiring an additional 196 shares during the last quarter. Jamison Private Wealth Management Inc. increased its stake in shares of Otis Worldwide by 5,720.0% in the second quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock valued at $28,000 after buying an additional 286 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in Otis Worldwide by 675.7% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Otis Worldwide in the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.4 %

NYSE OTIS opened at $100.56 on Thursday. The stock has a 50-day moving average of $99.37 and a 200-day moving average of $96.98. Otis Worldwide Co. has a 1-year low of $79.54 and a 1-year high of $106.33. The firm has a market cap of $40.17 billion, a PE ratio of 25.08 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. Otis Worldwide’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. As a group, equities research analysts forecast that Otis Worldwide Co. will post 3.86 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, November 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 38.90%.

Analyst Ratings Changes

Several research firms have recently issued reports on OTIS. Morgan Stanley began coverage on Otis Worldwide in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 target price on shares of Otis Worldwide in a research report on Thursday, September 19th. Barclays cut their price target on shares of Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company cut their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $102.00.

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.