Radnor Capital Management LLC Has $422,000 Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)

Radnor Capital Management LLC trimmed its position in Otis Worldwide Co. (NYSE:OTIS) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,552 shares of the company’s stock after selling 224 shares during the quarter. Radnor Capital Management LLC’s holdings in Otis Worldwide were worth $422,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in Otis Worldwide during the third quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new stake in Otis Worldwide during the third quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new stake in Otis Worldwide during the third quarter worth about $29,000. Fortitude Family Office LLC grew its stake in Otis Worldwide by 485.5% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Otis Worldwide during the third quarter worth about $34,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $92.22 on Thursday. The company has a 50 day simple moving average of $97.23 and a 200 day simple moving average of $97.34. The firm has a market cap of $36.84 billion, a PE ratio of 23.00 and a beta of 1.06. Otis Worldwide Co. has a 1 year low of $85.42 and a 1 year high of $106.33.

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

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors 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 dividend on an annualized basis and a yield of 1.69%. Otis Worldwide’s dividend payout ratio (DPR) is presently 38.90%.

Insider Activity at Otis Worldwide

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $101.02, for a total transaction of $909,180.00. Following the completion of the transaction, the executive vice president now owns 9,992 shares in the company, valued at approximately $1,009,391.84. This trade represents a 47.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

OTIS has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of Otis Worldwide in a research note on Wednesday, November 13th. They set a “neutral” rating and a $113.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Otis Worldwide from $112.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 target price on shares of Otis Worldwide in a report on Thursday, September 19th. Wolfe Research cut shares of Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price for the company. in a report on Thursday, December 12th. Finally, Barclays dropped their target price on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.