Peoples Financial Services CORP. Sells 1,000 Shares of Otis Worldwide Co. (NYSE:OTIS)

Peoples Financial Services CORP. lessened its position in Otis Worldwide Co. (NYSE:OTIS) by 26.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,800 shares of the company’s stock after selling 1,000 shares during the period. Peoples Financial Services CORP.’s holdings in Otis Worldwide were worth $249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OTIS. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Otis Worldwide by 95.5% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 389 shares of the company’s stock valued at $33,000 after purchasing an additional 190 shares during the period. Resurgent Financial Advisors LLC bought a new position in Otis Worldwide during the fourth quarter valued at approximately $33,000. Disciplined Investments LLC lifted its position in Otis Worldwide by 392.2% during the first quarter. Disciplined Investments LLC now owns 507 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the period. TFC Financial Management Inc. lifted its position in Otis Worldwide by 34.4% during the first quarter. TFC Financial Management Inc. now owns 520 shares of the company’s stock valued at $44,000 after purchasing an additional 133 shares during the period. Finally, Ahrens Investment Partners LLC bought a new position in Otis Worldwide during the first quarter valued at approximately $46,000. Institutional investors own 85.48% of the company’s stock.

Insider Transactions at Otis Worldwide

In other news, CAO Michael Patrick Ryan sold 6,372 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $90.50, for a total value of $576,666.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Michael Patrick Ryan sold 6,372 shares of Otis Worldwide stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $90.50, for a total transaction of $576,666.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fernandez Bernardo Calleja sold 3,992 shares of Otis Worldwide stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $90.70, for a total transaction of $362,074.40. Following the sale, the insider now owns 42,097 shares of the company’s stock, valued at approximately $3,818,197.90. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

OTIS has been the topic of several recent research reports. TheStreet upgraded shares of Otis Worldwide from a “c+” rating to a “b” rating in a research report on Wednesday, July 26th. Barclays decreased their price target on shares of Otis Worldwide from $80.00 to $76.00 in a research report on Thursday, September 7th. Wells Fargo & Company increased their price target on shares of Otis Worldwide from $88.00 to $90.00 in a research report on Monday, July 10th. HSBC increased their price target on shares of Otis Worldwide from $81.00 to $88.00 in a research report on Friday, June 23rd. Finally, Royal Bank of Canada increased their price target on shares of Otis Worldwide from $96.00 to $100.00 in a research report on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.86.

Otis Worldwide Trading Down 0.7 %

OTIS traded down $0.56 during trading on Friday, hitting $81.12. 3,555,142 shares of the company traded hands, compared to its average volume of 1,616,091. The company has a market cap of $33.40 billion, a PE ratio of 25.59 and a beta of 0.97. The stock’s 50-day simple moving average is $86.34 and its two-hundred day simple moving average is $84.86. Otis Worldwide Co. has a 1 year low of $62.49 and a 1 year high of $91.33.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 28.62%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the business earned $0.86 earnings per share. Otis Worldwide’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that Otis Worldwide Co. will post 3.47 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were issued a $0.34 dividend. The ex-dividend date was Thursday, August 17th. This represents a $1.36 annualized dividend and a dividend yield of 1.68%. Otis Worldwide’s dividend payout ratio (DPR) is presently 42.90%.

About Otis Worldwide

Otis Worldwide Corporation engages in the 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.