Prime Capital Investment Advisors LLC Acquires New Holdings in Otis Worldwide Co. (NYSE:OTIS)

Prime Capital Investment Advisors LLC acquired a new stake in Otis Worldwide Co. (NYSE:OTIS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,521 shares of the company’s stock, valued at approximately $405,000.

Other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of Otis Worldwide in the 3rd quarter valued at approximately $30,000. Janiczek Wealth Management LLC raised its stake in shares of Otis Worldwide by 141.1% in the 3rd quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Otis Worldwide in the 3rd quarter valued at approximately $33,000. Resurgent Financial Advisors LLC bought a new position in Otis Worldwide in the 4th quarter worth approximately $33,000. Finally, CNB Bank increased its position in Otis Worldwide by 81.0% in the 3rd quarter. CNB Bank now owns 429 shares of the company’s stock worth $34,000 after buying an additional 192 shares during the period. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Trading Up 0.7 %

Shares of NYSE OTIS opened at $97.97 on Friday. The business has a fifty day simple moving average of $95.58 and a 200 day simple moving average of $88.19. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 28.90 and a beta of 1.01. Otis Worldwide Co. has a one year low of $73.32 and a one year high of $100.35.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. During the same period in the prior year, the company posted $0.75 earnings per share. On average, research analysts anticipate that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s dividend payout ratio (DPR) is 40.12%.

Wall Street Analyst Weigh In

Several brokerages have commented on OTIS. Melius began coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They issued a “hold” rating on the stock. Vertical Research downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. UBS Group lifted their price target on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.29.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the sale, the chief executive officer now owns 192,319 shares in the company, valued at approximately $17,660,653.77. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

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.