Mutual of America Capital Management LLC Has $4.76 Million Position in Otis Worldwide Corporation (NYSE:OTIS)

Mutual of America Capital Management LLC cut its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,121 shares of the company’s stock after selling 1,741 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Otis Worldwide were worth $4,760,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OTIS. Northern Trust Corp boosted its stake in Otis Worldwide by 12.3% in the 4th quarter. Northern Trust Corp now owns 4,577,626 shares of the company’s stock valued at $423,934,000 after purchasing an additional 501,016 shares during the period. FMR LLC boosted its stake in Otis Worldwide by 2.4% in the 4th quarter. FMR LLC now owns 3,622,551 shares of the company’s stock valued at $335,484,000 after purchasing an additional 86,443 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Otis Worldwide by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,602,727 shares of the company’s stock valued at $333,649,000 after purchasing an additional 316,890 shares during the period. Deutsche Bank AG lifted its position in shares of Otis Worldwide by 13.9% during the 4th quarter. Deutsche Bank AG now owns 1,695,446 shares of the company’s stock valued at $157,015,000 after acquiring an additional 206,444 shares during the period. Finally, Canoe Financial LP lifted its position in shares of Otis Worldwide by 45.5% during the 1st quarter. Canoe Financial LP now owns 1,503,369 shares of the company’s stock valued at $155,148,000 after acquiring an additional 469,946 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Up 0.1%

Shares of OTIS stock opened at $87.44 on Friday. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The company has a market cap of $34.32 billion, a P/E ratio of 23.13, a P/E/G ratio of 4.19 and a beta of 0.95. The business has a fifty day simple moving average of $94.92 and a 200 day simple moving average of $96.82.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 15th. Otis Worldwide’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

A number of analysts have recently weighed in on OTIS shares. Morgan Stanley upped their target price on Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Barclays cut their target price on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft started coverage on Otis Worldwide in a research report on Monday, July 14th. They set a “hold” rating and a $109.00 target price for the company. Wolfe Research upgraded Otis Worldwide from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company cut their target price on Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Otis Worldwide currently has an average rating of “Hold” and an average target price of $102.50.

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.