IFM Investors Pty Ltd Boosts Stock Position in Otis Worldwide (NASDAQ:OTIS)

IFM Investors Pty Ltd increased its stake in Otis Worldwide (NASDAQ:OTIS) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,527 shares of the company’s stock after buying an additional 4,102 shares during the period. IFM Investors Pty Ltd’s holdings in Otis Worldwide were worth $2,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in Otis Worldwide in the 2nd quarter worth $2,219,018,000. FMR LLC bought a new stake in Otis Worldwide in the second quarter worth about $364,331,000. Bank of New York Mellon Corp bought a new stake in Otis Worldwide in the second quarter worth about $335,666,000. AKO Capital LLP bought a new stake in Otis Worldwide in the second quarter worth about $304,376,000. Finally, Deccan Value Investors L.P. bought a new stake in Otis Worldwide in the second quarter worth about $252,902,000.

Several brokerages have issued reports on OTIS. Zacks Investment Research raised shares of Otis Worldwide from a “sell” rating to a “hold” rating and set a $71.00 price objective for the company in a research note on Tuesday, August 4th. Credit Suisse Group boosted their price objective on shares of Otis Worldwide from $55.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. BidaskClub raised shares of Otis Worldwide from a “sell” rating to a “hold” rating in a research note on Friday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of Otis Worldwide from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Finally, HSBC initiated coverage on shares of Otis Worldwide in a research note on Monday, June 29th. They issued a “reduce” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.63.

NASDAQ OTIS traded down $0.17 during trading hours on Friday, hitting $65.03. 1,047,539 shares of the company’s stock traded hands, compared to its average volume of 3,564,779. Otis Worldwide has a 52-week low of $38.00 and a 52-week high of $66.00. The company has a market cap of $28.16 billion and a P/E ratio of 33.87. The company’s 50-day moving average is $62.47.

Otis Worldwide (NASDAQ:OTIS) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.12. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.92 billion. The firm’s revenue was down 9.6% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. Otis Worldwide’s payout ratio is 41.67%.

Otis Worldwide Company Profile

There is no company description available for Otis Worldwide Corp.

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

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