Kingsview Wealth Management LLC Increases Stake in Otis Worldwide Co. (NYSE:OTIS)

Kingsview Wealth Management LLC raised its holdings in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,545 shares of the company’s stock after purchasing an additional 543 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Otis Worldwide were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OTIS. Geneos Wealth Management Inc. increased its stake in Otis Worldwide by 10.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,233 shares of the company’s stock worth $110,000 after buying an additional 119 shares during the period. D.A. Davidson & CO. increased its stake in Otis Worldwide by 1.1% in the 2nd quarter. D.A. Davidson & CO. now owns 11,046 shares of the company’s stock worth $983,000 after buying an additional 119 shares during the period. Merit Financial Group LLC increased its stake in Otis Worldwide by 1.3% in the 2nd quarter. Merit Financial Group LLC now owns 9,431 shares of the company’s stock worth $839,000 after buying an additional 120 shares during the period. Sigma Planning Corp increased its stake in Otis Worldwide by 3.5% in the 3rd quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock worth $336,000 after buying an additional 141 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its stake in Otis Worldwide by 14.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,133 shares of the company’s stock worth $101,000 after buying an additional 142 shares during the period. Institutional investors own 85.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on OTIS shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a research note on Monday. Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $89.33.

Read Our Latest Analysis on Otis Worldwide

Otis Worldwide Trading Up 1.2 %

NYSE:OTIS opened at $91.94 on Wednesday. The company has a market cap of $37.28 billion, a PE ratio of 27.12 and a beta of 1.00. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $92.13. The company’s 50 day moving average is $88.23 and its two-hundred day moving average is $84.77.

Otis Worldwide (NYSE:OTISGet Free Report) last posted 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. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, analysts expect that Otis Worldwide Co. will post 3.83 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently announced 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 1.48%. The ex-dividend date of this dividend is Thursday, February 15th. Otis Worldwide’s dividend payout ratio (DPR) is 40.12%.

Otis Worldwide Profile

(Free Report)

Otis Worldwide Corporation engages in 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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