Elo Mutual Pension Insurance Co Purchases 1,357 Shares of Otis Worldwide Co. (NYSE:OTIS)

Elo Mutual Pension Insurance Co grew its position in Otis Worldwide Co. (NYSE:OTISFree Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,948 shares of the company’s stock after acquiring an additional 1,357 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Otis Worldwide were worth $3,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of OTIS. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Otis Worldwide by 54.5% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock worth $544,000 after buying an additional 2,390 shares during the period. Stevens Capital Management LP boosted its holdings in shares of Otis Worldwide by 142.1% during the 4th quarter. Stevens Capital Management LP now owns 7,555 shares of the company’s stock worth $676,000 after buying an additional 4,435 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Otis Worldwide by 13,638.0% during the 4th quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after buying an additional 150,563 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in shares of Otis Worldwide by 1.9% during the 4th quarter. Johnson Investment Counsel Inc. now owns 9,329 shares of the company’s stock worth $835,000 after buying an additional 175 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Otis Worldwide by 176.4% during the 4th quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock worth $10,378,000 after buying an additional 74,030 shares during the period. Institutional investors own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on OTIS shares. Argus lifted their target price on shares of Otis Worldwide from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Melius initiated coverage on shares of Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. UBS Group lifted their price objective on shares of Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company dropped their price objective 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, April 25th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and a consensus target price of $97.71.

Read Our Latest Research Report on Otis Worldwide

Otis Worldwide Stock Down 0.9 %

Shares of Otis Worldwide stock opened at $97.75 on Tuesday. The company has a 50-day simple moving average of $96.30 and a two-hundred day simple moving average of $92.98. The stock has a market capitalization of $39.52 billion, a price-to-earnings ratio of 28.25 and a beta of 1.04. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.84.

Otis Worldwide (NYSE:OTISGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Otis Worldwide had a net margin of 9.99% and a negative return on equity of 31.02%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.44 billion. On average, sell-side analysts anticipate that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, May 16th. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio is 45.09%.

Insider Transactions at Otis Worldwide

In other news, EVP Peiming Zheng sold 30,364 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.69, for a total transaction of $2,844,803.16. Following the completion of the sale, the executive vice president now owns 15,570 shares of the company’s stock, valued at approximately $1,458,753.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

Otis Worldwide Company Profile

(Free Report)

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.

See Also

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

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