Otis Worldwide Co. (NYSE:OTIS) Shares Sold by ANTIPODES PARTNERS Ltd

ANTIPODES PARTNERS Ltd decreased its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 9.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 61,679 shares of the company’s stock after selling 6,136 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in Otis Worldwide were worth $5,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTIS. Ashton Thomas Securities LLC acquired a new stake in Otis Worldwide during the third quarter worth about $29,000. Fortitude Family Office LLC raised 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 acquiring an additional 267 shares during the period. Centricity Wealth Management LLC acquired a new stake in Otis Worldwide during the fourth quarter worth about $33,000. Golden State Wealth Management LLC acquired a new stake in Otis Worldwide during the fourth quarter worth about $34,000. Finally, Truvestments Capital LLC acquired a new stake in Otis Worldwide during the third quarter worth about $36,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Ratings Changes

OTIS has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. UBS Group initiated coverage on shares of Otis Worldwide in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 price target on the stock. Wolfe Research lowered shares of Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 price target on the stock. in a research note on Thursday, December 12th. Finally, Barclays dropped their price target on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $102.88.

Insider Buying and Selling

In related news, insider Montlivault Stephane De sold 6,660 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the transaction, the insider now owns 63,931 shares of the company’s stock, valued at approximately $6,731,934.30. This trade represents a 9.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peiming Zheng sold 32,694 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $95.43, for a total transaction of $3,119,988.42. Following the completion of the transaction, the executive vice president now directly owns 169 shares of the company’s stock, valued at $16,127.67. This represents a 99.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,281 shares of company stock worth $10,747,553. Corporate insiders own 0.23% of the company’s stock.

Otis Worldwide Price Performance

NYSE OTIS opened at $99.97 on Thursday. Otis Worldwide Co. has a 12 month low of $90.12 and a 12 month high of $106.83. The firm has a market capitalization of $39.64 billion, a PE ratio of 24.62 and a beta of 1.05. The company’s 50 day simple moving average is $96.43 and its 200 day simple moving average is $97.98.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). Otis Worldwide had a net margin of 11.53% and a negative return on equity of 31.76%. Sell-side analysts anticipate that Otis Worldwide Co. will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, February 14th. Otis Worldwide’s payout ratio is 38.42%.

Otis Worldwide declared that its board has approved a share repurchase program on Thursday, January 16th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

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.