AG2R LA Mondiale Gestion D Actifs Has $1.65 Million Position in Otis Worldwide Corporation $OTIS

AG2R LA Mondiale Gestion D Actifs increased its position in Otis Worldwide Corporation (NYSE:OTIS) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,690 shares of the company’s stock after buying an additional 669 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in Otis Worldwide were worth $1,653,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Otis Worldwide during the first quarter valued at approximately $31,000. Cheviot Value Management LLC acquired a new position in Otis Worldwide during the first quarter valued at approximately $31,000. Flaharty Asset Management LLC acquired a new position in Otis Worldwide during the first quarter valued at approximately $38,000. Toth Financial Advisory Corp acquired a new position in Otis Worldwide during the second quarter valued at approximately $45,000. Finally, Ransom Advisory Ltd acquired a new position in Otis Worldwide during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on OTIS. Wolfe Research set a $109.00 price target on Otis Worldwide and gave the company an “outperform” rating in a report on Wednesday, October 8th. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Royal Bank Of Canada lowered their price target on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft began coverage on Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 price target on the stock. Finally, Morgan Stanley increased their price objective on Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.63.

Otis Worldwide Trading Down 1.1%

OTIS opened at $91.91 on Friday. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83. The stock has a market capitalization of $36.07 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 3.61 and a beta of 1.00. The business has a 50 day moving average of $89.37 and a 200-day moving average of $93.18.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the business earned $1.06 earnings per share. Otis Worldwide’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current year.

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.