National Pension Service Sells 12,098 Shares of Otis Worldwide Co. (NYSE:OTIS)

National Pension Service decreased its position in shares of Otis Worldwide Co. (NYSE:OTIS – Get Rating) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 546,724 shares of the company’s stock after selling 12,098 shares during the quarter. National Pension Service’s holdings in Otis Worldwide were worth $35,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OTIS. American Century Companies Inc. grew its stake in shares of Otis Worldwide by 8.6% during the 1st quarter. American Century Companies Inc. now owns 7,817 shares of the company’s stock worth $601,000 after acquiring an additional 620 shares during the period. Cibc World Market Inc. lifted its holdings in Otis Worldwide by 3.0% during the 1st quarter. Cibc World Market Inc. now owns 11,669 shares of the company’s stock worth $898,000 after purchasing an additional 338 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in Otis Worldwide by 7.7% during the 1st quarter. Moors & Cabot Inc. now owns 6,574 shares of the company’s stock worth $506,000 after purchasing an additional 469 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Otis Worldwide by 25.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,536 shares of the company’s stock worth $272,000 after purchasing an additional 715 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in Otis Worldwide by 5.0% during the 1st quarter. Brighton Jones LLC now owns 3,876 shares of the company’s stock worth $298,000 after purchasing an additional 183 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OTIS. Barclays increased their price objective on Otis Worldwide from $80.00 to $81.00 and gave the stock an “equal weight” rating in a report on Thursday, February 2nd. Cowen increased their price objective on Otis Worldwide from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Morgan Stanley increased their price objective on Otis Worldwide from $84.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, February 2nd. Finally, Wells Fargo & Company increased their price objective on Otis Worldwide from $76.00 to $82.00 and gave the stock an “underweight” rating in a report on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $81.00.

Insider Buying and Selling

In related news, insider Fernandez Bernardo Calleja sold 703 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $86.85, for a total transaction of $61,055.55. Following the transaction, the insider now directly owns 22,215 shares in the company, valued at approximately $1,929,372.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Montlivault Stephane De sold 16,005 shares of Otis Worldwide stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $84.26, for a total value of $1,348,581.30. Following the sale, the insider now directly owns 21,161 shares in the company, valued at approximately $1,783,025.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Fernandez Bernardo Calleja sold 703 shares of Otis Worldwide stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $86.85, for a total value of $61,055.55. Following the completion of the sale, the insider now owns 22,215 shares in the company, valued at $1,929,372.75. The disclosure for this sale can be found here. Insiders have sold a total of 32,777 shares of company stock worth $2,759,404 in the last ninety days. 0.11% of the stock is owned by insiders.

Otis Worldwide Trading Up 0.4 %

Shares of NYSE OTIS opened at $81.51 on Friday. The stock has a market cap of $33.82 billion, a price-to-earnings ratio of 27.44 and a beta of 0.93. Otis Worldwide Co. has a 1-year low of $62.49 and a 1-year high of $87.33. The stock’s 50-day moving average is $83.20 and its 200 day moving average is $76.55.

Otis Worldwide (NYSE:OTIS – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Otis Worldwide had a negative return on equity of 27.69% and a net margin of 9.16%. Otis Worldwide’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. On average, analysts forecast that Otis Worldwide Co. will post 3.43 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, February 16th. This represents a $1.16 annualized dividend and a yield of 1.42%. Otis Worldwide’s payout ratio is 39.06%.

Otis Worldwide Profile

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Otis Worldwide Corporation manufactures, installs, and services 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.