Montlivault Stephane De Sells 47,944 Shares of Otis Worldwide (NYSE:OTIS) Stock

Otis Worldwide Corporation (NYSE:OTIS) insider Montlivault Stephane De sold 47,944 shares of Otis Worldwide stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $92.25, for a total value of $4,422,834.00. Following the sale, the insider owned 29,176 shares of the company’s stock, valued at approximately $2,691,486. This trade represents a 62.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Otis Worldwide Price Performance

Shares of OTIS opened at $89.65 on Friday. Otis Worldwide Corporation has a 1-year low of $84.00 and a 1-year high of $106.83. The company has a market capitalization of $34.85 billion, a P/E ratio of 25.61, a P/E/G ratio of 2.70 and a beta of 1.01. The firm’s 50 day simple moving average is $88.75 and its 200 day simple moving average is $88.92.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, January 28th. The company reported $1.03 EPS for the quarter, hitting analysts’ consensus estimates of $1.03. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 EPS. On average, equities analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Otis Worldwide’s dividend payout ratio (DPR) is presently 48.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. New Street Research set a $98.00 price objective on Otis Worldwide in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price for the company. in a research note on Friday, January 30th. Wall Street Zen downgraded shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. Finally, BNP Paribas Exane raised shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a report on Tuesday, December 9th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide currently has an average rating of “Hold” and a consensus price target of $101.44.

Institutional Trading of Otis Worldwide

A number of institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC bought a new stake in Otis Worldwide during the 3rd quarter valued at $26,000. Camelot Portfolios LLC purchased a new position in shares of Otis Worldwide in the fourth quarter valued at about $26,000. Stance Capital LLC bought a new position in shares of Otis Worldwide during the third quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in shares of Otis Worldwide during the second quarter valued at about $31,000. Finally, Nemes Rush Group LLC boosted its holdings in shares of Otis Worldwide by 75.4% during the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock worth $31,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.