Compass Wealth Management LLC Reduces Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Compass Wealth Management LLC trimmed its position in Otis Worldwide Co. (NYSE:OTIS) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,665 shares of the company’s stock after selling 443 shares during the quarter. Compass Wealth Management LLC’s holdings in Otis Worldwide were worth $1,005,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of OTIS. Hancock Whitney Corp raised its stake in shares of Otis Worldwide by 4.6% in the 1st quarter. Hancock Whitney Corp now owns 2,549 shares of the company’s stock valued at $253,000 after acquiring an additional 111 shares during the period. Bleakley Financial Group LLC increased its holdings in Otis Worldwide by 1.2% in the 1st quarter. Bleakley Financial Group LLC now owns 9,726 shares of the company’s stock valued at $965,000 after purchasing an additional 117 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Otis Worldwide by 7.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,867 shares of the company’s stock valued at $185,000 after purchasing an additional 124 shares during the period. Brighton Jones LLC lifted its stake in Otis Worldwide by 5.0% during the second quarter. Brighton Jones LLC now owns 2,580 shares of the company’s stock worth $248,000 after purchasing an additional 124 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Otis Worldwide by 0.9% during the second quarter. Park Avenue Securities LLC now owns 14,931 shares of the company’s stock worth $1,437,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

OTIS has been the topic of several research analyst reports. Morgan Stanley assumed coverage on Otis Worldwide in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Wells Fargo & Company lifted their target price on Otis Worldwide from $95.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Barclays increased their price target on shares of Otis Worldwide from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Finally, Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.71.

Otis Worldwide Price Performance

NYSE:OTIS opened at $105.21 on Friday. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $106.33. The firm has a market capitalization of $42.54 billion, a PE ratio of 30.41 and a beta of 1.03. The business’s fifty day moving average price is $97.17 and its 200 day moving average price is $96.58.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.74 billion. Otis Worldwide had a negative return on equity of 31.65% and a net margin of 10.35%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, equities analysts anticipate that Otis Worldwide Co. will post 3.88 EPS for the current year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a $0.39 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.56 annualized dividend and a dividend yield of 1.48%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.09%.

Otis Worldwide Company Profile

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.