Otis Worldwide Co. (NYSE:OTIS) Shares Bought by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY grew its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,667 shares of the company’s stock after purchasing an additional 194 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Otis Worldwide were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Eventide Asset Management LLC boosted its holdings in Otis Worldwide by 10.5% during the third quarter. Eventide Asset Management LLC now owns 33,664 shares of the company’s stock worth $3,499,000 after buying an additional 3,187 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Otis Worldwide by 6.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 38,688 shares of the company’s stock valued at $4,021,000 after acquiring an additional 2,316 shares during the last quarter. William Allan Corp lifted its position in shares of Otis Worldwide by 0.6% during the 3rd quarter. William Allan Corp now owns 47,346 shares of the company’s stock valued at $4,921,000 after acquiring an additional 272 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Otis Worldwide by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,285,837 shares of the company’s stock worth $341,530,000 after acquiring an additional 171,573 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Otis Worldwide by 10.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 142,724 shares of the company’s stock worth $14,835,000 after acquiring an additional 13,246 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.4 %

Shares of NYSE:OTIS opened at $102.98 on Monday. Otis Worldwide Co. has a 12-month low of $83.99 and a 12-month high of $106.33. The firm has a market capitalization of $41.14 billion, a P/E ratio of 25.68 and a beta of 1.04. The firm has a fifty day moving average of $101.90 and a two-hundred day moving average of $97.81.

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). Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the business posted $0.95 EPS. Otis Worldwide’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that Otis Worldwide Co. will post 3.85 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, November 15th. Otis Worldwide’s payout ratio is presently 38.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OTIS shares. Barclays decreased their price target on Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. UBS Group started coverage on shares of Otis Worldwide in a report on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. Wells Fargo & Company decreased their price objective 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. Finally, Morgan Stanley began coverage on shares of Otis Worldwide in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $104.57.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $101.02, for a total transaction of $909,180.00. Following the transaction, the executive vice president now directly owns 9,992 shares in the company, valued at $1,009,391.84. This trade represents a 47.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.