Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Otis Worldwide Co. (NYSE:OTIS – Free Report) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,594 shares of the company’s stock after selling 1,883 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Otis Worldwide were worth $3,185,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in OTIS. JB Capital LLC lifted its holdings in shares of Otis Worldwide by 0.5% in the 4th quarter. JB Capital LLC now owns 26,572 shares of the company’s stock valued at $2,377,000 after buying an additional 129 shares during the period. Baystate Wealth Management LLC lifted its holdings in shares of Otis Worldwide by 16.7% in the 4th quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock valued at $86,000 after buying an additional 138 shares during the period. ICW Investment Advisors LLC lifted its holdings in shares of Otis Worldwide by 2.4% in the 4th quarter. ICW Investment Advisors LLC now owns 6,129 shares of the company’s stock valued at $548,000 after buying an additional 144 shares during the period. Spire Wealth Management lifted its holdings in shares of Otis Worldwide by 19.0% in the 4th quarter. Spire Wealth Management now owns 932 shares of the company’s stock valued at $82,000 after buying an additional 149 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Otis Worldwide by 19.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 943 shares of the company’s stock worth $84,000 after purchasing an additional 151 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Otis Worldwide
In related news, EVP Peiming Zheng sold 30,364 shares of Otis Worldwide stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.69, for a total value of $2,844,803.16. Following the transaction, the executive vice president now owns 15,570 shares in the company, valued at $1,458,753.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by insiders.
Wall Street Analyst Weigh In
View Our Latest Research Report on OTIS
Otis Worldwide Stock Down 1.0 %
Shares of NYSE:OTIS opened at $96.50 on Wednesday. The company has a market cap of $39.02 billion, a P/E ratio of 27.89 and a beta of 1.04. Otis Worldwide Co. has a 52 week low of $73.32 and a 52 week high of $100.84. The business has a fifty day simple moving average of $96.19 and a 200-day simple moving average of $93.48.
Otis Worldwide (NYSE:OTIS – Get Free Report) last announced 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. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.44 billion. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. Sell-side analysts expect that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.
Otis Worldwide Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were given a $0.39 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s payout ratio is currently 45.09%.
About Otis Worldwide
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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