Mutual of America Capital Management LLC Decreases Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Mutual of America Capital Management LLC cut its stake in Otis Worldwide Co. (NYSE:OTIS) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 54,914 shares of the company’s stock after selling 2,849 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Otis Worldwide were worth $4,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Otis Worldwide in the fourth quarter valued at $28,000. Orion Capital Management LLC purchased a new position in Otis Worldwide in the third quarter valued at $30,000. Janiczek Wealth Management LLC boosted its holdings in Otis Worldwide by 141.1% in the third quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares during the period. NBC Securities Inc. purchased a new position in Otis Worldwide in the third quarter valued at $33,000. Finally, Resurgent Financial Advisors LLC purchased a new position in Otis Worldwide in the fourth quarter valued at $33,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Stock Down 1.8 %

Shares of Otis Worldwide stock opened at $96.16 on Monday. The firm has a market cap of $38.87 billion, a PE ratio of 28.37 and a beta of 1.01. The business’s fifty day moving average is $95.69 and its two-hundred day moving average is $88.42. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $100.35.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate 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 firm posted $0.75 EPS. Equities research analysts anticipate that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were issued a $0.34 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.36 annualized dividend and a yield of 1.41%. Otis Worldwide’s dividend payout ratio is currently 40.12%.

Insider Activity at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at approximately $17,660,653.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at approximately $17,660,653.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the transaction, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Vertical Research downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Barclays lifted their price target on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Thursday, February 22nd. Melius assumed coverage on Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating for the company. Finally, UBS Group lifted their price target on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.29.

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.