Cambridge Investment Research Advisors Inc. Sells 795 Shares of Otis Worldwide Co. (NYSE:OTIS)

Cambridge Investment Research Advisors Inc. trimmed its stake in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,938 shares of the company’s stock after selling 795 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Otis Worldwide were worth $2,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. JB Capital LLC increased its stake in shares of Otis Worldwide by 0.5% in the fourth quarter. JB Capital LLC now owns 26,572 shares of the company’s stock worth $2,377,000 after buying an additional 129 shares during the period. Baystate Wealth Management LLC boosted its position in Otis Worldwide by 16.7% during the 4th quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock valued at $86,000 after buying an additional 138 shares during the period. Sigma Planning Corp grew its holdings in Otis Worldwide by 3.5% in the 3rd quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock worth $336,000 after acquiring an additional 141 shares during the last quarter. ICW Investment Advisors LLC increased its position in shares of Otis Worldwide by 2.4% in the fourth quarter. ICW Investment Advisors LLC now owns 6,129 shares of the company’s stock valued at $548,000 after acquiring an additional 144 shares during the period. Finally, Spire Wealth Management raised its stake in shares of Otis Worldwide by 19.0% during the fourth quarter. Spire Wealth Management now owns 932 shares of the company’s stock valued at $82,000 after acquiring an additional 149 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Trading Up 2.9 %

NYSE:OTIS opened at $99.20 on Friday. The company has a market cap of $40.11 billion, a PE ratio of 28.67 and a beta of 1.03. The company has a 50 day simple moving average of $96.30 and a two-hundred day simple moving average of $92.31. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $100.35.

Otis Worldwide (NYSE:OTISGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. Research analysts forecast that Otis Worldwide Co. will post 3.88 earnings per share for the current 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 represents a $1.56 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, May 16th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio is 45.09%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays raised their target price on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Argus boosted their target price on Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, May 13th. UBS Group upped their target price on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on shares of Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and an average price target of $97.71.

View Our Latest Analysis on Otis Worldwide

Insider Buying and Selling

In other Otis Worldwide news, EVP Peiming Zheng sold 30,364 shares of the company’s 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 $1,458,753.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

Otis Worldwide Company Profile

(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.

Further Reading

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

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