Otis Worldwide Corporation $OTIS Shares Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC raised its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 307.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,356 shares of the company’s stock after purchasing an additional 7,816 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Otis Worldwide were worth $939,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. 111 Capital raised its holdings in Otis Worldwide by 281.7% in the 3rd quarter. 111 Capital now owns 9,313 shares of the company’s stock valued at $851,000 after buying an additional 6,873 shares during the period. Elo Mutual Pension Insurance Co lifted its position in Otis Worldwide by 33.8% in the third quarter. Elo Mutual Pension Insurance Co now owns 70,339 shares of the company’s stock valued at $6,431,000 after buying an additional 17,753 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in Otis Worldwide by 86.3% during the third quarter. WASHINGTON TRUST Co now owns 4,390 shares of the company’s stock worth $401,000 after buying an additional 2,034 shares during the period. Foyston Gordon & Payne Inc boosted its stake in Otis Worldwide by 88.4% during the third quarter. Foyston Gordon & Payne Inc now owns 107,043 shares of the company’s stock worth $9,787,000 after buying an additional 50,217 shares during the period. Finally, Clean Energy Transition LLP increased its position in shares of Otis Worldwide by 103.5% during the third quarter. Clean Energy Transition LLP now owns 669,669 shares of the company’s stock valued at $61,228,000 after acquiring an additional 340,662 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 47,944 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Green sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $86.45, for a total transaction of $518,700.00. Following the sale, the executive vice president owned 3,773 shares of the company’s stock, valued at $326,175.85. This represents a 61.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 158,013 shares of company stock valued at $14,337,635. 0.23% of the stock is owned by company insiders.

Otis Worldwide Price Performance

NYSE:OTIS opened at $89.15 on Friday. Otis Worldwide Corporation has a 12 month low of $84.00 and a 12 month high of $106.83. The firm has a market capitalization of $34.65 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.73 and a beta of 1.00. The business’s fifty day moving average price is $89.87 and its 200 day moving average price is $89.38.

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

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, February 13th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s payout ratio is presently 48.00%.

Wall Street Analyst Weigh In

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

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.