Michael Patrick Ryan Sells 1,182 Shares of Otis Worldwide (NYSE:OTIS) Stock

Otis Worldwide Corporation (NYSE:OTIS) CAO Michael Patrick Ryan sold 1,182 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $90.06, for a total transaction of $106,450.92. Following the completion of the transaction, the chief accounting officer owned 3,504 shares in the company, valued at approximately $315,570.24. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Otis Worldwide Trading Down 0.7%

Shares of OTIS opened at $89.39 on Thursday. The firm’s fifty day simple moving average is $88.59 and its two-hundred day simple moving average is $88.88. Otis Worldwide Corporation has a 12 month low of $84.00 and a 12 month high of $106.83. The stock has a market capitalization of $34.75 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 2.71 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.03. Otis Worldwide had a negative return on equity of 30.42% and a net margin of 9.59%.The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s payout ratio is 48.00%.

Institutional Investors Weigh In On Otis Worldwide

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC bought a new position in Otis Worldwide in the 3rd quarter valued at about $26,000. Camelot Portfolios LLC purchased a new stake in shares of Otis Worldwide in the fourth quarter worth approximately $26,000. Stance Capital LLC bought a new position in shares of Otis Worldwide in the third quarter valued at approximately $27,000. Chilton Capital Management LLC purchased a new position in shares of Otis Worldwide during the second quarter valued at approximately $31,000. Finally, Nemes Rush Group LLC boosted its position in shares of Otis Worldwide by 75.4% during the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock valued at $31,000 after buying an additional 135 shares during the last quarter. 88.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on OTIS. BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research note on Tuesday, December 9th. New Street Research set a $98.00 price target on shares of Otis Worldwide in a research note on Friday, January 30th. Wells Fargo & Company dropped their price objective on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, December 15th. JPMorgan Chase & Co. downgraded Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price for the company. in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.44.

About Otis Worldwide

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.