Otis Worldwide Corporation $OTIS Holdings Boosted by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC raised its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,019 shares of the company’s stock after purchasing an additional 318 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Otis Worldwide were worth $398,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Money Management Inc. lifted its stake in 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 acquiring an additional 100 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Otis Worldwide by 0.8% in the 2nd quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock valued at $1,374,000 after purchasing an additional 104 shares during the period. PFG Investments LLC lifted its position in shares of 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 purchasing an additional 121 shares in the last quarter. MSH Capital Advisors LLC boosted its holdings in shares of Otis Worldwide by 5.4% during the second quarter. MSH Capital Advisors LLC now owns 2,362 shares of the company’s stock worth $234,000 after purchasing an additional 122 shares during the period. Finally, Bennett Selby Investments LP grew its position in Otis Worldwide by 6.0% during the second quarter. Bennett Selby Investments LP now owns 2,301 shares of the company’s stock valued at $228,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.0%

Shares of Otis Worldwide stock opened at $92.00 on Tuesday. The firm has a fifty day simple moving average of $89.46 and a 200-day simple moving average of $93.16. 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 $36.11 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.61 and a beta of 1.00.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays decreased their target price on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, July 24th. Morgan Stanley upped their price target on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $104.63.

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.