New York Life Investment Management LLC Trims Position in Otis Worldwide Co. (NYSE:OTIS)

New York Life Investment Management LLC trimmed its position in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,832 shares of the company’s stock after selling 648 shares during the quarter. New York Life Investment Management LLC’s holdings in Otis Worldwide were worth $5,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted 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 last quarter. Cibc World Market Inc. grew its holdings in shares of Otis Worldwide by 3.0% in the first quarter. Cibc World Market Inc. now owns 11,669 shares of the company’s stock worth $898,000 after purchasing an additional 338 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Otis Worldwide by 7.7% in the first quarter. Moors & Cabot Inc. now owns 6,574 shares of the company’s stock worth $506,000 after purchasing an additional 469 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Otis Worldwide by 25.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,536 shares of the company’s stock worth $272,000 after buying an additional 715 shares during the period. 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 valued at $298,000 after buying an additional 183 shares in the last quarter. 85.48% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Up 1.6 %

Otis Worldwide stock opened at $90.97 on Friday. The firm has a market cap of $37.23 billion, a P/E ratio of 26.83 and a beta of 1.00. The business has a fifty day moving average of $87.97 and a two-hundred day moving average of $84.73. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $92.13.

Otis Worldwide (NYSE:OTISGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the business posted $0.75 EPS. Equities analysts expect that Otis Worldwide Co. will post 3.84 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 16th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, February 15th. Otis Worldwide’s payout ratio is currently 40.12%.

Analyst Ratings Changes

A number of brokerages have commented on OTIS. Wells Fargo & Company dropped their target price on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.33.

Read Our Latest Stock Analysis on Otis Worldwide

Otis Worldwide Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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