Blue Trust Inc. Purchases 668 Shares of Otis Worldwide Co. (NYSE:OTIS)

Blue Trust Inc. lifted its position in Otis Worldwide Co. (NYSE:OTISFree Report) by 78.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,521 shares of the company’s stock after purchasing an additional 668 shares during the quarter. Blue Trust Inc.’s holdings in Otis Worldwide were worth $136,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OTIS. Orion Capital Management LLC bought a new stake in shares of Otis Worldwide in the third quarter worth about $30,000. Janiczek Wealth Management LLC increased its holdings in shares of Otis Worldwide by 141.1% in the third quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Otis Worldwide in the third quarter worth about $33,000. Resurgent Financial Advisors LLC bought a new stake in shares of Otis Worldwide in the fourth quarter worth about $33,000. Finally, CNB Bank increased its stake in Otis Worldwide by 81.0% during the third quarter. CNB Bank now owns 429 shares of the company’s stock worth $34,000 after acquiring an additional 192 shares during the last quarter. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OTIS has been the topic of several analyst reports. Melius initiated coverage on Otis Worldwide in a research note on Tuesday. They set a “hold” rating on the stock. Wells Fargo & Company reduced their price objective 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. Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Thursday, February 22nd. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Otis Worldwide in a research report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and a consensus price target of $94.29.

Get Our Latest Analysis on OTIS

Insider Activity at Otis Worldwide

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

Otis Worldwide Stock Performance

Shares of NYSE OTIS opened at $97.75 on Wednesday. The firm has a market capitalization of $39.63 billion, a price-to-earnings ratio of 28.83 and a beta of 1.01. The stock has a 50 day moving average price of $94.33 and a 200 day moving average price of $87.47. Otis Worldwide Co. has a 52-week low of $73.32 and a 52-week high of $100.35.

Otis Worldwide (NYSE:OTISGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $3.62 billion during 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 previous year, the business earned $0.75 earnings per share. Analysts forecast that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were issued a $0.34 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.39%. Otis Worldwide’s payout ratio 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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