Larson Financial Group LLC Has $75,000 Holdings in Otis Worldwide Co. (NYSE:OTIS)

Larson Financial Group LLC raised its holdings in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 2,225.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 930 shares of the company’s stock after purchasing an additional 890 shares during the period. Larson Financial Group LLC’s holdings in Otis Worldwide were worth $75,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Otis Worldwide during the 3rd quarter valued at about $770,000. Hartford Funds Management Co LLC raised its position in shares of Otis Worldwide by 9.2% in the 3rd quarter. Hartford Funds Management Co LLC now owns 8,069 shares of the company’s stock valued at $648,000 after acquiring an additional 677 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Otis Worldwide by 14.2% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,353 shares of the company’s stock valued at $1,072,000 after acquiring an additional 1,664 shares during the period. Welch & Forbes LLC raised its position in shares of Otis Worldwide by 0.7% in the 3rd quarter. Welch & Forbes LLC now owns 305,819 shares of the company’s stock valued at $24,560,000 after acquiring an additional 2,143 shares during the period. Finally, CNB Bank raised its position in shares of Otis Worldwide by 81.0% in the 3rd quarter. CNB Bank now owns 429 shares of the company’s stock valued at $34,000 after acquiring an additional 192 shares during the period. 85.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company increased their target price on Otis Worldwide from $82.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Finally, UBS Group assumed coverage on Otis Worldwide in a research note on Tuesday, October 3rd. They set a “neutral” rating and a $87.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.43.

View Our Latest Analysis on OTIS

Otis Worldwide Stock Down 0.4 %

Shares of NYSE OTIS traded down $0.38 during trading hours on Friday, hitting $88.60. The company had a trading volume of 672,320 shares, compared to its average volume of 2,250,128. The stock has a market capitalization of $36.26 billion, a P/E ratio of 26.88 and a beta of 1.00. Otis Worldwide Co. has a 1-year low of $73.32 and a 1-year high of $91.33. The firm’s 50 day moving average is $87.41 and its 200-day moving average is $84.71.

Otis Worldwide (NYSE:OTISGet Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.07. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.54 billion. Otis Worldwide had a negative return on equity of 30.00% and a net margin of 9.84%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. On average, sell-side analysts predict that Otis Worldwide Co. will post 3.52 earnings per share for the current year.

About Otis Worldwide

(Free Report)

Otis Worldwide Corporation engages in the 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.

Further Reading

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Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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