Mitsubishi UFJ Trust & Banking Corp Has $24.33 Million Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Otis Worldwide Co. (NYSE:OTISFree Report) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 302,893 shares of the company’s stock after selling 8,409 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Otis Worldwide worth $24,325,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OTIS. Spinnaker Trust lifted its stake in shares of Otis Worldwide by 12.8% during the second quarter. Spinnaker Trust now owns 3,221 shares of the company’s stock valued at $287,000 after acquiring an additional 365 shares during the period. Curbstone Financial Management Corp lifted its stake in shares of Otis Worldwide by 3.0% during the third quarter. Curbstone Financial Management Corp now owns 6,968 shares of the company’s stock valued at $560,000 after acquiring an additional 200 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Otis Worldwide by 148.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 311,298 shares of the company’s stock valued at $27,709,000 after acquiring an additional 186,079 shares during the period. Guinness Atkinson Asset Management Inc increased its holdings in Otis Worldwide by 7.3% in the third quarter. Guinness Atkinson Asset Management Inc now owns 9,832 shares of the company’s stock valued at $790,000 after purchasing an additional 672 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Otis Worldwide by 0.7% in the second quarter. ProShare Advisors LLC now owns 67,857 shares of the company’s stock valued at $6,040,000 after purchasing an additional 447 shares during the last quarter. Institutional investors own 85.48% of the company’s stock.

Insider Buying and Selling

In related news, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OTIS shares. Vertical Research downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Otis Worldwide in a report on Monday, February 5th. Finally, Wells Fargo & Company dropped their price objective on 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.33.

View Our Latest Analysis on OTIS

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $91.08 on Monday. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $92.45. The business has a 50-day moving average of $88.57 and a two-hundred day moving average of $84.83. The company has a market capitalization of $36.93 billion, a P/E ratio of 26.87 and a beta of 1.00.

Otis Worldwide (NYSE:OTISGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share (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 last year, the company earned $0.75 earnings per share. On average, equities analysts anticipate that Otis Worldwide Co. will post 3.87 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors 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 presently 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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