Los Angeles Capital Management LLC Has $231.05 Million Holdings in Otis Worldwide Co. (NYSE:OTIS)

Los Angeles Capital Management LLC trimmed its stake in Otis Worldwide Co. (NYSE:OTISFree Report) by 1.1% in the first quarter, HoldingsChannel.com reports. The firm owned 2,327,531 shares of the company’s stock after selling 25,199 shares during the period. Otis Worldwide accounts for about 0.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Los Angeles Capital Management LLC’s holdings in Otis Worldwide were worth $231,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. JB Capital LLC boosted its position in Otis Worldwide by 0.5% during the fourth quarter. JB Capital LLC now owns 26,572 shares of the company’s stock valued at $2,377,000 after acquiring an additional 129 shares during the last quarter. Baystate Wealth Management LLC boosted its position in Otis Worldwide by 16.7% during the fourth quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock valued at $86,000 after acquiring an additional 138 shares during the last quarter. ICW Investment Advisors LLC boosted its position in Otis Worldwide by 2.4% during the fourth quarter. ICW Investment Advisors LLC now owns 6,129 shares of the company’s stock valued at $548,000 after acquiring an additional 144 shares during the last quarter. Spire Wealth Management boosted its position in Otis Worldwide by 19.0% during the fourth quarter. Spire Wealth Management now owns 932 shares of the company’s stock valued at $82,000 after acquiring an additional 149 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Otis Worldwide by 19.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 943 shares of the company’s stock valued at $84,000 after acquiring an additional 151 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Trading Down 1.0 %

Shares of OTIS traded down $0.97 on Wednesday, reaching $96.50. The company’s stock had a trading volume of 2,647,266 shares, compared to its average volume of 2,088,168. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.84. The stock has a market capitalization of $39.02 billion, a PE ratio of 27.89 and a beta of 1.04. The firm has a fifty day moving average of $96.19 and a 200-day moving average of $93.48.

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 the consensus estimate of $0.87 by $0.01. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. Otis Worldwide had a net margin of 9.99% and a negative return on equity of 31.02%. As a group, equities analysts anticipate that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a $0.39 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.56 annualized dividend and a yield of 1.62%. Otis Worldwide’s dividend payout ratio (DPR) is 45.09%.

Insider Buying and Selling at Otis Worldwide

In other news, EVP Peiming Zheng sold 30,364 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.69, for a total transaction of $2,844,803.16. Following the completion of the sale, the executive vice president now owns 15,570 shares in the company, valued at approximately $1,458,753.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on OTIS. Wells Fargo & Company cut their price target on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Argus upped their price target on shares of Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Melius initiated coverage on shares of Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock. Barclays increased their price objective on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average price target of $97.71.

View Our Latest Report on OTIS

Otis Worldwide Profile

(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.

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

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