GHP Investment Advisors Inc. Has $241,000 Holdings in Otis Worldwide Co. (NYSE:OTIS)

GHP Investment Advisors Inc. decreased its position in Otis Worldwide Co. (NYSE:OTIS) by 5.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,597 shares of the company’s stock after selling 146 shares during the period. GHP Investment Advisors Inc.’s holdings in Otis Worldwide were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Resonant Capital Advisors LLC boosted its stake in Otis Worldwide by 3.1% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,455 shares of the company’s stock valued at $320,000 after purchasing an additional 105 shares during the period. Optas LLC boosted its position in shares of Otis Worldwide by 2.2% in the third quarter. Optas LLC now owns 5,522 shares of the company’s stock valued at $574,000 after acquiring an additional 118 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Otis Worldwide by 4.4% in the third quarter. Rehmann Capital Advisory Group now owns 2,867 shares of the company’s stock valued at $299,000 after acquiring an additional 122 shares in the last quarter. PFG Investments LLC increased its position in Otis Worldwide by 4.1% during the fourth quarter. PFG Investments LLC now owns 3,342 shares of the company’s stock worth $309,000 after acquiring an additional 131 shares during the period. Finally, Groupama Asset Managment raised its stake in Otis Worldwide by 1.4% in the 3rd quarter. Groupama Asset Managment now owns 9,428 shares of the company’s stock worth $980,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Insider Activity

In other news, CEO Judith Fran Marks sold 38,012 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $94.41, for a total transaction of $3,588,712.92. Following the completion of the transaction, the chief executive officer now owns 245,883 shares of the company’s stock, valued at approximately $23,213,814.03. This trade represents a 13.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peiming Zheng sold 32,694 shares of Otis Worldwide stock in a transaction 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 transaction, the executive vice president now owns 169 shares in the company, valued at approximately $16,127.67. This trade represents a 99.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,481 shares of company stock worth $7,159,509. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays decreased their target price on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Wolfe Research cut Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 price objective for the company. in a report on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, UBS Group assumed coverage on Otis Worldwide in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.88.

Otis Worldwide Stock Down 1.3 %

NYSE:OTIS opened at $94.83 on Friday. Otis Worldwide Co. has a twelve month low of $89.37 and a twelve month high of $106.33. The stock’s 50-day simple moving average is $95.14 and its 200 day simple moving average is $97.01. The firm has a market capitalization of $37.60 billion, a PE ratio of 23.36 and a beta of 1.06.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.93 earnings per share 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%. On average, analysts anticipate that Otis Worldwide Co. will post 4.02 EPS for the current fiscal year.

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

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 1.65%. Otis Worldwide’s dividend payout ratio (DPR) is presently 38.42%.

Otis Worldwide 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.