Ossiam Has $1.96 Million Holdings in Otis Worldwide Co. (NYSE:OTIS)

Ossiam increased its position in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,877 shares of the company’s stock after purchasing an additional 5,095 shares during the quarter. Ossiam’s holdings in Otis Worldwide were worth $1,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrature Capital Ltd boosted its holdings in shares of Otis Worldwide by 49.5% in the 4th quarter. Quadrature Capital Ltd now owns 12,728 shares of the company’s stock valued at $1,139,000 after purchasing an additional 4,216 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Otis Worldwide in the fourth quarter valued at about $942,000. Veritas Investment Partners UK Ltd. grew its position in Otis Worldwide by 405.6% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 4,045 shares of the company’s stock valued at $362,000 after acquiring an additional 3,245 shares during the last quarter. Wescott Financial Advisory Group LLC acquired a new position in Otis Worldwide during the fourth quarter worth about $220,000. Finally, AdvisorShares Investments LLC lifted its holdings in shares of Otis Worldwide by 14.2% in the fourth quarter. AdvisorShares Investments LLC now owns 38,272 shares of the company’s stock worth $3,424,000 after acquiring an additional 4,755 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Otis Worldwide

Otis Worldwide Stock Down 0.8 %

Shares of NYSE OTIS opened at $98.66 on Monday. The company has a market capitalization of $39.89 billion, a PE ratio of 28.51 and a beta of 1.04. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.84. The firm has a fifty day simple moving average of $96.31 and a 200 day simple moving average of $92.89.

Otis Worldwide (NYSE:OTISGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates 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, equities 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 declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a $0.39 dividend. The ex-dividend date was Thursday, May 16th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.58%. Otis Worldwide’s payout ratio is 45.09%.

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.

See Also

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

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