Sapient Capital LLC Takes $378,000 Position in Otis Worldwide Co. (NYSE:OTIS)

Sapient Capital LLC bought a new position in Otis Worldwide Co. (NYSE:OTIS) during the 4th quarter, Holdings Channel reports. The institutional investor bought 4,227 shares of the company’s stock, valued at approximately $378,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC bought a new position in shares of Otis Worldwide during the fourth quarter valued at $28,000. Orion Capital Management LLC purchased a new stake in Otis Worldwide during the third quarter valued at $30,000. Janiczek Wealth Management LLC increased its position in Otis Worldwide by 141.1% during the third quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares during the last quarter. NBC Securities Inc. purchased a new stake in Otis Worldwide in the third quarter worth about $33,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in Otis Worldwide in the fourth quarter worth about $33,000. 88.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on OTIS. Wells Fargo & Company reduced their price target on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a research report on Thursday, February 1st. UBS Group increased their target price on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research note on Monday, February 5th. Vertical Research lowered Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Melius initiated coverage on Otis Worldwide in a research note on Tuesday, April 2nd. They set a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and an average target price of $94.29.

Insider Buying and Selling

In related news, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of the firm’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 transaction, the chief executive officer now owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Otis Worldwide Price Performance

NYSE:OTIS opened at $96.16 on Monday. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.35. The firm has a market capitalization of $38.87 billion, a price-to-earnings ratio of 28.37 and a beta of 1.01. The business has a 50 day simple moving average of $95.69 and a 200-day simple moving average of $88.42.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share (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 earned $0.75 EPS. As a group, analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors 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 of this dividend was Thursday, February 15th. Otis Worldwide’s dividend payout ratio is currently 40.12%.

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.