Liberty Capital Management Inc. Buys 171 Shares of Otis Worldwide Co. (NYSE:OTIS)

Liberty Capital Management Inc. raised its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 26,913 shares of the company’s stock after purchasing an additional 171 shares during the quarter. Liberty Capital Management Inc.’s holdings in Otis Worldwide were worth $2,492,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in OTIS. Resonant Capital Advisors LLC raised its stake in shares of Otis Worldwide by 3.1% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,455 shares of the company’s stock valued at $320,000 after buying an additional 105 shares in the last quarter. Optas LLC increased its stake in Otis Worldwide by 2.2% in the third quarter. Optas LLC now owns 5,522 shares of the company’s stock valued at $574,000 after acquiring an additional 118 shares during the period. Rehmann Capital Advisory Group raised its position in Otis Worldwide by 4.4% in the third quarter. Rehmann Capital Advisory Group now owns 2,867 shares of the company’s stock worth $299,000 after purchasing an additional 122 shares in the last quarter. PFG Investments LLC lifted its stake in Otis Worldwide by 4.1% during the fourth quarter. PFG Investments LLC now owns 3,342 shares of the company’s stock worth $309,000 after purchasing an additional 131 shares during the period. Finally, Groupama Asset Managment lifted its stake in Otis Worldwide by 1.4% during the third quarter. Groupama Asset Managment now owns 9,428 shares of the company’s stock worth $980,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Insider Buying and Selling

In related news, EVP Peiming Zheng sold 32,694 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $95.43, for a total value of $3,119,988.42. Following the completion of the sale, the executive vice president now owns 169 shares in the company, valued at approximately $16,127.67. This represents a 99.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nora E. Lafreniere sold 4,775 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $94.41, for a total value of $450,807.75. Following the completion of the transaction, the executive vice president now directly owns 24,927 shares in the company, valued at $2,353,358.07. The trade was a 16.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,481 shares of company stock worth $7,159,509 over the last three months. 0.23% of the stock is currently owned by company insiders.

Otis Worldwide Trading Down 1.3 %

Shares of NYSE OTIS opened at $94.83 on Monday. Otis Worldwide Co. has a 1-year low of $89.37 and a 1-year high of $106.33. The company has a 50-day moving average of $95.14 and a two-hundred day moving average of $97.04. The company has a market cap of $37.60 billion, a PE ratio of 23.36 and a beta of 1.06.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.02). Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. As a group, equities research analysts forecast that Otis Worldwide Co. will post 4.03 earnings per share for the current year.

Otis Worldwide declared that its Board of Directors has initiated a share buyback plan on Thursday, January 16th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.65%. The ex-dividend date is Friday, February 14th. Otis Worldwide’s dividend payout ratio is 38.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OTIS shares. Wolfe Research cut Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price for the company. in a report on Thursday, December 12th. UBS Group assumed coverage on Otis Worldwide in a research note on Wednesday, November 13th. They set a “neutral” rating and a $113.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company cut their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Finally, Barclays decreased their price objective on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and a consensus target price of $102.88.

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.