Nisa Investment Advisors LLC Boosts Stock Holdings in Otis Worldwide Corporation $OTIS

Nisa Investment Advisors LLC boosted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,306 shares of the company’s stock after acquiring an additional 3,619 shares during the period. Nisa Investment Advisors LLC’s holdings in Otis Worldwide were worth $11,913,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Otis Worldwide during the first quarter valued at $31,000. Cheviot Value Management LLC purchased a new position in shares of Otis Worldwide in the 1st quarter worth $31,000. Flaharty Asset Management LLC purchased a new position in shares of Otis Worldwide in the 1st quarter worth $38,000. Toth Financial Advisory Corp purchased a new position in shares of Otis Worldwide in the 2nd quarter worth $45,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Otis Worldwide in the 1st quarter worth $48,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OTIS has been the subject of a number of recent research reports. Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wolfe Research set a $109.00 price objective on shares of Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada dropped their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, July 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. 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 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $104.63.

Otis Worldwide Price Performance

Shares of OTIS opened at $92.00 on Tuesday. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83. The company has a 50-day moving average of $89.46 and a 200 day moving average of $93.16. The firm has a market capitalization of $36.11 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.61 and a beta of 1.00.

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.