Baldwin Wealth Partners LLC MA Has $9.47 Million Stake in Otis Worldwide Corporation $OTIS

Baldwin Wealth Partners LLC MA lessened its stake in Otis Worldwide Corporation (NYSE:OTIS) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,400 shares of the company’s stock after selling 6,578 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Otis Worldwide were worth $9,469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Root Financial Partners LLC purchased a new position in Otis Worldwide during the third quarter worth about $26,000. Stance Capital LLC bought a new stake in Otis Worldwide during the third quarter worth $27,000. Nemes Rush Group LLC boosted its position in Otis Worldwide by 75.4% in 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 last quarter. Rakuten Investment Management Inc. bought a new position in Otis Worldwide in the 3rd quarter valued at $31,000. Finally, Westside Investment Management Inc. grew its stake in Otis Worldwide by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Judith Fran Marks sold 56,107 shares of Otis Worldwide stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $90.89, for a total value of $5,099,565.23. Following the completion of the transaction, the chief executive officer owned 231,072 shares of the company’s stock, valued at $21,002,134.08. The trade was a 19.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael Patrick Ryan sold 1,182 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $90.06, for a total transaction of $106,450.92. Following the sale, the chief accounting officer directly owned 3,504 shares in the company, valued at $315,570.24. This trade represents a 25.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 158,013 shares of company stock valued at $14,337,635 over the last ninety days. Insiders own 0.23% of the company’s stock.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $79.49 on Friday. Otis Worldwide Corporation has a 1 year low of $78.25 and a 1 year high of $105.95. The firm has a market cap of $30.90 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.41 and a beta of 1.00. The company has a 50-day moving average of $88.73 and a 200 day moving average of $89.07.

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

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, February 13th. Otis Worldwide’s payout ratio is 48.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Monday, December 15th. New Street Research set a $98.00 price objective on shares of Otis Worldwide in a report on Friday, January 30th. Wolfe Research reaffirmed an “outperform” rating on shares of Otis Worldwide in a research report on Monday. Finally, BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Tuesday, December 9th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus price target of $101.44.

About Otis Worldwide

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.