Cwm LLC Has $1.27 Million Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Cwm LLC increased its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,152 shares of the company’s stock after buying an additional 652 shares during the quarter. Cwm LLC’s holdings in Otis Worldwide were worth $1,266,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Otis Worldwide in the fourth quarter worth approximately $28,000. Orion Capital Management LLC purchased a new stake in shares of Otis Worldwide in the third quarter worth approximately $30,000. NBC Securities Inc. purchased a new stake in shares of Otis Worldwide in the third quarter worth approximately $33,000. CNB Bank raised its stake in shares of Otis Worldwide by 81.0% in the third quarter. CNB Bank now owns 429 shares of the company’s stock worth $34,000 after purchasing an additional 192 shares during the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Otis Worldwide in the third quarter worth approximately $36,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OTIS. Barclays increased their price objective on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Vertical Research downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. UBS Group increased their price target on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. increased their price target on Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.86.

Insider Transactions at Otis Worldwide

In other news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was 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 directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide 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 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 through this link. Also, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction 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 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. Corporate insiders own 0.23% of the company’s stock.

Otis Worldwide Trading Down 0.9 %

Shares of NYSE OTIS opened at $92.20 on Friday. The stock has a fifty day simple moving average of $96.44 and a two-hundred day simple moving average of $89.42. Otis Worldwide Co. has a 1-year low of $73.32 and a 1-year high of $100.35. The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 26.65 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. Analysts forecast that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $0.39 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 16th. Otis Worldwide’s dividend payout ratio (DPR) is presently 39.31%.

Otis Worldwide Profile

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.