750 Shares in Otis Worldwide Co. (NYSE:OTIS) Acquired by Sawyer & Company Inc

Sawyer & Company Inc bought a new position in shares of Otis Worldwide Co. (NYSE:OTIS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 750 shares of the company’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of OTIS. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Otis Worldwide by 45.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 718 shares of the company’s stock worth $67,000 after acquiring an additional 226 shares in the last quarter. Park Avenue Securities LLC increased its position in Otis Worldwide by 58.4% in the fourth quarter. Park Avenue Securities LLC now owns 22,868 shares of the company’s stock worth $2,118,000 after purchasing an additional 8,433 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Otis Worldwide by 3.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $409,000 after purchasing an additional 162 shares in the last quarter. Oak Thistle LLC purchased a new stake in Otis Worldwide during the fourth quarter valued at $2,283,000. Finally, SeaCrest Wealth Management LLC lifted its position in Otis Worldwide by 38.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 2,780 shares of the company’s stock valued at $257,000 after purchasing an additional 778 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Insider Transactions at Otis Worldwide

In other news, EVP Abbe Luersman sold 9,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total value of $909,180.00. Following the completion of the transaction, the executive vice president now directly owns 9,992 shares of the company’s stock, valued at approximately $1,009,391.84. The trade was a 47.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

Otis Worldwide Trading Up 0.5 %

Shares of OTIS opened at $92.22 on Thursday. The firm has a fifty day moving average price of $97.23 and a 200-day moving average price of $97.34. The firm has a market capitalization of $36.84 billion, a P/E ratio of 23.00 and a beta of 1.06. Otis Worldwide Co. has a 12-month low of $85.42 and a 12-month high of $106.33.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm earned $0.95 earnings per share. Otis Worldwide’s quarterly revenue was up .7% on a year-over-year basis. Analysts predict that Otis Worldwide Co. will post 3.86 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 1.69%. Otis Worldwide’s dividend payout ratio is currently 38.90%.

Analyst Ratings Changes

A number of research firms have recently weighed in on OTIS. Barclays reduced their target price on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. UBS Group assumed coverage on Otis Worldwide in a research report on Wednesday, November 13th. They set a “neutral” rating and a $113.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 target price on shares of Otis Worldwide in a report on Thursday, September 19th. Wells Fargo & Company decreased their price target on Otis Worldwide from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their price target on Otis Worldwide from $112.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $103.88.

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.