Y Intercept Hong Kong Ltd Has $7.02 Million Position in Otis Worldwide Corporation $OTIS

Y Intercept Hong Kong Ltd lifted its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 231.1% during the second quarter, Holdings Channel.com reports. The firm owned 70,871 shares of the company’s stock after acquiring an additional 49,468 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Otis Worldwide were worth $7,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in OTIS. Wayfinding Financial LLC bought a new position in shares of Otis Worldwide during the 1st quarter worth about $31,000. Cheviot Value Management LLC bought a new position in shares of Otis Worldwide during the 1st quarter worth about $31,000. Chilton Capital Management LLC bought a new position in shares of Otis Worldwide during the 2nd quarter worth about $31,000. Flaharty Asset Management LLC bought a new position in shares of Otis Worldwide during the 1st quarter worth about $38,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Otis Worldwide during the 2nd quarter worth about $45,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE OTIS opened at $92.00 on Tuesday. Otis Worldwide Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $106.83. The stock has a market cap of $36.11 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.61 and a beta of 1.00. The firm’s 50-day simple moving average is $89.46 and its 200 day simple moving average is $93.16.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OTIS shares. Wells Fargo & Company increased their price objective on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. increased their price objective on shares of Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Otis Worldwide in a research report on Wednesday, October 8th. 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 report on Monday, July 28th. Finally, Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently 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.