Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its position in Otis Worldwide Co. (NYSE:OTISFree Report) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,435 shares of the company’s stock after selling 513 shares during the quarter. Stifel Financial Corp’s holdings in Otis Worldwide were worth $8,449,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cetera Trust Company N.A acquired a new stake in Otis Worldwide in the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Otis Worldwide in the fourth quarter valued at approximately $28,000. Orion Capital Management LLC acquired a new stake in Otis Worldwide in the third quarter valued at approximately $30,000. NBC Securities Inc. acquired a new stake in Otis Worldwide in the third quarter valued at approximately $33,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Otis Worldwide in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, EVP Peiming Zheng sold 30,364 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.69, for a total value of $2,844,803.16. Following the sale, the executive vice president now directly owns 15,570 shares in the company, valued at $1,458,753.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

Otis Worldwide Price Performance

Shares of OTIS opened at $99.41 on Friday. The business’s fifty day moving average price is $96.33 and its 200 day moving average price is $92.68. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $100.84. The stock has a market capitalization of $40.19 billion, a PE ratio of 28.73 and a beta of 1.04.

Otis Worldwide (NYSE:OTISGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm 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%. As a group, research analysts anticipate that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.57%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, May 16th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.09%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OTIS shares. UBS Group increased their price objective on shares of Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Barclays raised their price target on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. raised their price target on shares of Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Argus raised their price target on shares of Otis Worldwide from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $97.71.

Check Out Our Latest Analysis on Otis Worldwide

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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