Raymond James Trust N.A. Has $2.38 Million Stake in Otis Worldwide Co. (NYSE:OTIS)


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Raymond James Trust N.A. decreased its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,196 shares of the company’s stock after selling 3,223 shares during the quarter. Raymond James Trust N.A.’s holdings in Otis Worldwide were worth $2,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Morgan Stanley bought a new position in shares of Otis Worldwide during the 1st quarter valued at about $3,066,000. Eastern Bank purchased a new stake in shares of Otis Worldwide during the 2nd quarter worth about $240,000. PNC Financial Services Group Inc. purchased a new stake in shares of Otis Worldwide during the 2nd quarter worth about $57,729,000. FMR LLC purchased a new stake in shares of Otis Worldwide during the 2nd quarter worth about $364,331,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Otis Worldwide during the 2nd quarter worth about $192,000. 83.71% of the stock is owned by institutional investors.

In other news, insider Fernandez Bernardo Calleja bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 9th. The stock was acquired at an average cost of $65.51 per share, with a total value of $32,755.00. Following the transaction, the insider now directly owns 1,500 shares of the company’s stock, valued at approximately $98,265. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

A number of research analysts have recently commented on OTIS shares. Zacks Investment Research raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Wednesday. Cowen reaffirmed a “buy” rating and issued a $75.00 target price on shares of Otis Worldwide in a report on Friday, December 4th. Wolfe Research raised Otis Worldwide from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 24th. JPMorgan Chase & Co. raised their target price on Otis Worldwide from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Finally, BidaskClub raised Otis Worldwide from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Otis Worldwide presently has an average rating of “Hold” and a consensus price target of $64.88.

NYSE OTIS opened at $63.97 on Thursday. Otis Worldwide Co. has a twelve month low of $38.00 and a twelve month high of $68.21. The business’s fifty day moving average is $66.13 and its 200 day moving average is $64.66.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Monday, October 26th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.12. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.17 billion. On average, analysts forecast that Otis Worldwide Co. will post 2.31 earnings per share for the current fiscal year.

Otis Worldwide Company Profile

Otis Worldwide Corporation manufactures, installs, and services elevators and escalators worldwide. The company operates through 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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