Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 6.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,759 shares of the company’s stock after selling 4,636 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Otis Worldwide were worth $5,615,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. JB Capital LLC boosted its stake in Otis Worldwide by 0.5% during the fourth quarter. JB Capital LLC now owns 26,572 shares of the company’s stock valued at $2,377,000 after buying an additional 129 shares in the last quarter. Sigma Planning Corp boosted its stake in Otis Worldwide by 3.5% during the third quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock valued at $336,000 after buying an additional 141 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in Otis Worldwide by 5.2% during the first quarter. Belpointe Asset Management LLC now owns 2,857 shares of the company’s stock valued at $241,000 after buying an additional 142 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Otis Worldwide by 42.3% during the third quarter. Avior Wealth Management LLC now owns 481 shares of the company’s stock valued at $39,000 after buying an additional 143 shares in the last quarter. Finally, Resources Management Corp CT ADV boosted its stake in Otis Worldwide by 47.4% during the second quarter. Resources Management Corp CT ADV now owns 460 shares of the company’s stock valued at $41,000 after buying an additional 148 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Trading Down 1.8 %

Shares of NYSE OTIS opened at $96.16 on Monday. Otis Worldwide Co. has a one year low of $73.32 and a one year high of $100.35. The firm has a market capitalization of $38.87 billion, a PE ratio of 28.37 and a beta of 1.01. The business has a 50-day moving average price of $95.69 and a two-hundred day moving average price of $88.42.

Otis Worldwide (NYSE:OTIS) last announced 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. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company posted $0.75 EPS. Research analysts anticipate that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Thursday, February 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 40.12%.

Insider Transactions at Otis Worldwide

In other news, insider Montlivault Stephane De sold 18,393 shares of the firm’s 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 completion of the sale, the insider now directly owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the transaction, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on OTIS shares. UBS Group raised their target price on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Thursday, February 22nd. Melius started coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They issued a “hold” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Finally, Barclays increased their price target on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.29.

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.