Hilltop Holdings Inc. Purchases 264 Shares of Otis Worldwide Co. (NYSE:OTIS)

Hilltop Holdings Inc. boosted its position in Otis Worldwide Co. (NYSE:OTISFree Report) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,863 shares of the company’s stock after buying an additional 264 shares during the quarter. Hilltop Holdings Inc.’s holdings in Otis Worldwide were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Trust Company N.A bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Otis Worldwide during the fourth quarter worth about $28,000. Orion Capital Management LLC purchased a new stake in shares of Otis Worldwide in the 3rd quarter worth approximately $30,000. NBC Securities Inc. purchased a new position in Otis Worldwide during the third quarter valued at $33,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in Otis Worldwide during the fourth quarter valued at $35,000. Institutional investors own 88.03% of the company’s stock.

Insider Buying and Selling

In other Otis Worldwide news, EVP Peiming Zheng sold 30,364 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.69, for a total transaction of $2,844,803.16. Following the completion of the sale, the executive vice president now directly owns 15,570 shares of the company’s stock, valued at approximately $1,458,753.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

OTIS has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Melius assumed coverage on Otis Worldwide in a report on Tuesday, April 2nd. They issued a “hold” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Otis Worldwide in a research report on Monday, February 5th. JPMorgan Chase & Co. lifted their price objective on Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, UBS Group upped their target price on shares of Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $97.71.

Check Out Our Latest Stock Report on OTIS

Otis Worldwide Stock Up 1.7 %

Shares of NYSE:OTIS opened at $96.39 on Friday. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35. The stock has a market capitalization of $38.97 billion, a PE ratio of 27.86 and a beta of 1.03. The firm’s 50 day moving average price is $96.30 and its 200-day moving average price is $92.13.

Otis Worldwide (NYSE:OTISGet Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. Analysts expect that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $0.39 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.62%. Otis Worldwide’s dividend payout ratio is 45.09%.

About Otis Worldwide

(Free Report)

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.

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Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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