Otis Worldwide Corporation $OTIS Holdings Lifted by Guinness Asset Management LTD

Guinness Asset Management LTD increased its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,925,000 shares of the company’s stock after acquiring an additional 28,083 shares during the period. Otis Worldwide makes up about 3.4% of Guinness Asset Management LTD’s investment portfolio, making the stock its 17th largest position. Guinness Asset Management LTD owned approximately 0.49% of Otis Worldwide worth $190,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Berkshire Money Management Inc. raised its holdings in shares of Otis Worldwide by 5.0% in the 2nd quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares in the last quarter. Park Avenue Securities LLC grew its position in Otis Worldwide by 0.8% in the second quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock worth $1,374,000 after buying an additional 104 shares during the last quarter. PFG Investments LLC grew its position in Otis Worldwide by 3.7% in the second quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock worth $339,000 after buying an additional 121 shares during the last quarter. MSH Capital Advisors LLC increased its holdings in shares of Otis Worldwide by 5.4% in the second quarter. MSH Capital Advisors LLC now owns 2,362 shares of the company’s stock valued at $234,000 after buying an additional 122 shares in the last quarter. Finally, Bennett Selby Investments LP lifted its position in shares of Otis Worldwide by 6.0% during the 2nd quarter. Bennett Selby Investments LP now owns 2,301 shares of the company’s stock valued at $228,000 after acquiring an additional 130 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OTIS shares. Wolfe Research set a $109.00 target price on Otis Worldwide and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Barclays decreased their price target on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research report on Thursday, July 24th. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research note on Saturday. Finally, Wells Fargo & Company raised their target price on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.63.

Otis Worldwide Trading Down 1.1%

Shares of Otis Worldwide stock opened at $91.91 on Monday. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The company has a market cap of $36.07 billion, a P/E ratio of 24.31, a P/E/G ratio of 3.61 and a beta of 1.00. The stock has a 50-day moving average price of $89.37 and a 200 day moving average price of $93.17.

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.