Otis Worldwide Co. (NYSE:OTIS) Position Lowered by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its stake in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 19.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,048 shares of the company’s stock after selling 733 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Otis Worldwide were worth $273,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Otis Worldwide by 47.9% during the third quarter. JPMorgan Chase & Co. now owns 7,540,422 shares of the company’s stock worth $605,571,000 after purchasing an additional 2,442,203 shares during the last quarter. Northern Trust Corp lifted its holdings in Otis Worldwide by 3.0% in the third quarter. Northern Trust Corp now owns 4,661,849 shares of the company’s stock worth $374,393,000 after acquiring an additional 135,048 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Otis Worldwide by 1.7% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,448,272 shares of the company’s stock worth $276,931,000 after acquiring an additional 59,211 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Otis Worldwide by 3.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,309,855 shares of the company’s stock worth $265,814,000 after acquiring an additional 120,853 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Otis Worldwide by 6.8% in the third quarter. OMERS ADMINISTRATION Corp now owns 2,324,016 shares of the company’s stock worth $186,642,000 after acquiring an additional 146,968 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Down 4.2 %

Shares of NYSE:OTIS opened at $93.37 on Thursday. The firm’s 50 day moving average is $96.41 and its two-hundred day moving average is $89.24. Otis Worldwide Co. has a 52 week low of $73.32 and a 52 week high of $100.35. The firm has a market capitalization of $37.74 billion, a P/E ratio of 27.54 and a beta of 1.01.

Otis Worldwide (NYSE:OTISGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.44 billion. Analysts predict that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.46%. Otis Worldwide’s dividend payout ratio is presently 40.12%.

Analyst Ratings Changes

OTIS has been the topic of a number of recent research reports. UBS Group raised their target price on shares of Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Otis Worldwide in a report on Monday, February 5th. Melius initiated coverage on shares of Otis Worldwide in a report on Tuesday, April 2nd. They issued a “hold” rating on the stock. Vertical Research cut shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Argus upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $95.00.

View Our Latest Analysis on OTIS

Insider Activity at Otis Worldwide

In related news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the transaction, the insider now owns 67,274 shares in the company, valued at $6,128,661.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the transaction, the chief executive officer now owns 192,319 shares in the company, valued at $17,660,653.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the transaction, the insider now owns 67,274 shares in the company, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

About Otis Worldwide

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Co. (NYSE:OTISFree Report).

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

Receive News & Ratings for Otis Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otis Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.