Louisiana State Employees Retirement System bought a new stake in shares of Otis Worldwide Co. (NYSE:OTIS – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,700 shares of the company’s stock, valued at approximately $2,210,000.
A number of other institutional investors have also recently modified their holdings of the stock. Crestwood Advisors Group LLC bought a new stake in shares of Otis Worldwide during the 4th quarter valued at $201,000. Graypoint LLC lifted its position in shares of Otis Worldwide by 7.0% during the 4th quarter. Graypoint LLC now owns 4,010 shares of the company’s stock valued at $359,000 after acquiring an additional 261 shares during the period. Baystate Wealth Management LLC lifted its position in shares of Otis Worldwide by 16.7% during the 4th quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock worth $86,000 after buying an additional 138 shares during the last quarter. Seascape Capital Management lifted its position in shares of Otis Worldwide by 1.5% during the 4th quarter. Seascape Capital Management now owns 31,604 shares of the company’s stock worth $2,828,000 after buying an additional 471 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Otis Worldwide by 11.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,880 shares of the company’s stock worth $437,000 after buying an additional 496 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction dated 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 of the company’s stock, valued at $17,660,653.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction dated 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 of the company’s stock, valued at $17,660,653.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction that occurred 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 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. Insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on Otis Worldwide
Otis Worldwide Trading Down 1.1 %
Otis Worldwide stock opened at $94.96 on Thursday. The company has a market capitalization of $38.38 billion, a PE ratio of 28.01 and a beta of 1.01. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $100.35. The stock has a 50-day moving average price of $95.93 and a two-hundred day moving average price of $88.68.
Otis Worldwide (NYSE:OTIS – Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations 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 prior year, the firm posted $0.75 earnings per share. As a group, analysts predict that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.
Otis Worldwide Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.43%. Otis Worldwide’s payout ratio is 40.12%.
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.
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