2,341 Shares in Otis Worldwide Co. (NYSE:OTIS) Acquired by Headlands Technologies LLC

Headlands Technologies LLC acquired a new stake in Otis Worldwide Co. (NYSE:OTIS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,341 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Trust Company N.A bought a new position in Otis Worldwide in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Otis Worldwide in the 4th quarter valued at approximately $28,000. Orion Capital Management LLC bought a new position in shares of Otis Worldwide during the third quarter valued at $30,000. NBC Securities Inc. bought a new position in shares of Otis Worldwide during the third quarter valued at $33,000. Finally, CNB Bank raised its stake in shares of Otis Worldwide by 81.0% during the third quarter. CNB Bank now owns 429 shares of the company’s stock valued at $34,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the firm’s 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 completion of the sale, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction dated 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 transaction, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the transaction, the chief executive officer now owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research note on Monday, February 5th. Argus raised shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Thursday, February 22nd. Wells Fargo & Company dropped their price target on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays lifted their target price on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $96.86.

Otis Worldwide Stock Down 0.9 %

Shares of NYSE OTIS opened at $92.20 on Monday. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35. The firm has a fifty day simple moving average of $96.44 and a 200 day simple moving average of $89.48. The company has a market capitalization of $37.28 billion, a PE ratio of 26.65 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Otis Worldwide had a net margin of 9.99% and a negative return on equity of 31.02%. As a group, equities analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

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

About Otis Worldwide

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.