9,797 Otis Worldwide Corporation $OTIS Shares Bought by Yousif Capital Management LLC

Yousif Capital Management LLC boosted its stake in Otis Worldwide Corporation (NYSE:OTIS) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,270 shares of the company’s stock after buying an additional 9,797 shares during the period. Yousif Capital Management LLC’s holdings in Otis Worldwide were worth $3,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brookstone Capital Management grew its holdings in shares of Otis Worldwide by 17.8% during the 3rd quarter. Brookstone Capital Management now owns 5,181 shares of the company’s stock worth $333,000 after acquiring an additional 782 shares during the period. NBT Bank N.A. purchased a new position in shares of Otis Worldwide in the 3rd quarter valued at approximately $918,000. Root Financial Partners LLC purchased a new position in shares of Otis Worldwide in the 3rd quarter valued at approximately $37,000. Cypress Wealth Services LLC lifted its stake in shares of Otis Worldwide by 20.7% in the 3rd quarter. Cypress Wealth Services LLC now owns 5,360 shares of the company’s stock valued at $356,000 after purchasing an additional 920 shares during the period. Finally, Axxcess Wealth Management LLC boosted its position in shares of Otis Worldwide by 32.3% during the third quarter. Axxcess Wealth Management LLC now owns 13,214 shares of the company’s stock valued at $850,000 after purchasing an additional 3,227 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OTIS. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research note on Tuesday, July 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of Otis Worldwide in a research report on Monday, September 21st. Evercore restated an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research report on Monday, August 10th. Finally, Wells Fargo & Company started coverage on shares of Otis Worldwide in a research report on Thursday, September 24th. They issued an “underweight” rating and a $77.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Otis Worldwide currently has an average rating of “Hold” and an average target price of $91.00.

Otis Worldwide Stock Down 0.0%

OTIS stock opened at $75.14 on Tuesday. Otis Worldwide Corporation has a twelve month low of $63.58 and a twelve month high of $94.57. The firm has a market cap of $28.60 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.64 and a beta of 0.87. The business has a 50 day moving average of $69.42 and a 200 day moving average of $76.73.

Otis Worldwide Company Profile

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider for the elevator and escalator industry. The company designs, manufactures, installs, modernizes and maintains elevators, escalators and moving walkways for commercial buildings, residential developments, transportation hubs and other infrastructure projects.

Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.

The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.