Windward Capital Management Co. CA Sells 142 Shares of Otis Worldwide Co. (NYSE:OTIS)

Windward Capital Management Co. CA trimmed its holdings in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,401 shares of the company’s stock after selling 142 shares during the period. Windward Capital Management Co. CA’s holdings in Otis Worldwide were worth $7,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in OTIS. D.A. Davidson & CO. grew its holdings in shares of Otis Worldwide by 1.1% in the second quarter. D.A. Davidson & CO. now owns 11,046 shares of the company’s stock valued at $983,000 after purchasing an additional 119 shares in the last quarter. Sigma Planning Corp raised its position in Otis Worldwide by 3.5% in the 3rd quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock valued at $336,000 after purchasing an additional 141 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Otis Worldwide by 5.2% in the 1st quarter. Belpointe Asset Management LLC now owns 2,857 shares of the company’s stock valued at $241,000 after buying an additional 142 shares during the period. Avior Wealth Management LLC increased its stake in shares of Otis Worldwide by 42.3% during the third quarter. Avior Wealth Management LLC now owns 481 shares of the company’s stock worth $39,000 after buying an additional 143 shares during the period. Finally, Resources Management Corp CT ADV raised its holdings in Otis Worldwide by 47.4% in the second quarter. Resources Management Corp CT ADV now owns 460 shares of the company’s stock valued at $41,000 after acquiring an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OTIS. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Otis Worldwide in a research note on Monday, February 5th. Vertical Research lowered Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Wells Fargo & Company lowered their price target 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. UBS Group raised their price objective on shares of Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, Argus upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and an average price target of $92.29.

View Our Latest Stock Analysis on OTIS

Insider Activity

In related news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the sale, the insider now owns 67,274 shares in the company, valued at approximately $6,128,661.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the sale, the insider now directly owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $99.04 on Tuesday. The company has a market cap of $40.16 billion, a PE ratio of 29.22 and a beta of 1.01. The stock has a fifty day moving average price of $92.92 and a 200 day moving average price of $86.76. Otis Worldwide Co. has a 1-year low of $73.32 and a 1-year high of $100.35.

Otis Worldwide (NYSE:OTISGet Free Report) last announced 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 firm had revenue of $3.62 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.75 earnings per share. Analysts anticipate that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s payout ratio is currently 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.

Further Reading

Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Co. (NYSE:OTISFree Report).

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

Receive News & Ratings for Otis Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otis Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.