Aptus Capital Advisors LLC Makes New $269,000 Investment in Otis Worldwide Co. (NYSE:OTIS)

Aptus Capital Advisors LLC purchased a new position in shares of Otis Worldwide Co. (NYSE:OTISFree Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,349 shares of the company’s stock, valued at approximately $269,000.

A number of other institutional investors also recently bought and sold shares of OTIS. Spinnaker Trust boosted its stake in shares of Otis Worldwide by 12.8% during the 2nd quarter. Spinnaker Trust now owns 3,221 shares of the company’s stock worth $287,000 after acquiring an additional 365 shares in the last quarter. Curbstone Financial Management Corp boosted its stake in shares of Otis Worldwide by 3.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 6,968 shares of the company’s stock worth $560,000 after acquiring an additional 200 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Otis Worldwide by 148.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 311,298 shares of the company’s stock worth $27,709,000 after acquiring an additional 186,079 shares in the last quarter. Guinness Atkinson Asset Management Inc boosted its stake in shares of Otis Worldwide by 7.3% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 9,832 shares of the company’s stock worth $790,000 after acquiring an additional 672 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Otis Worldwide by 0.7% in the 2nd quarter. ProShare Advisors LLC now owns 67,857 shares of the company’s stock valued at $6,040,000 after buying an additional 447 shares in the last quarter. 85.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Otis Worldwide

In other news, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the completion of the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at approximately $17,660,653.77. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

OTIS has been the topic of a number of recent research reports. Vertical Research lowered Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research note on Monday, February 5th. Finally, Wells Fargo & Company reduced their price target on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.33.

Get Our Latest Analysis on OTIS

Otis Worldwide Stock Up 0.2 %

Shares of Otis Worldwide stock opened at $91.08 on Monday. The firm has a market cap of $36.93 billion, a PE ratio of 26.87 and a beta of 1.00. The business’s fifty day moving average is $88.57 and its two-hundred day moving average is $84.83. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $92.45.

Otis Worldwide (NYSE:OTISGet Free Report) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. During the same period in the prior year, the firm posted $0.75 EPS. Equities research analysts anticipate that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Dividend Announcement

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 issued a dividend of $0.34 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.49%. Otis Worldwide’s payout ratio is 40.12%.

Otis Worldwide Company 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.

See Also

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

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