Otis Worldwide Co. (NYSE:OTIS) Holdings Lifted by EP Wealth Advisors LLC

EP Wealth Advisors LLC boosted its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,427 shares of the company’s stock after buying an additional 208 shares during the quarter. EP Wealth Advisors LLC’s holdings in Otis Worldwide were worth $396,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cetera Trust Company N.A acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $28,000. Orion Capital Management LLC acquired a new position in shares of Otis Worldwide in the 3rd quarter valued at $30,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $35,000. Finally, TFO Wealth Partners LLC boosted its position in shares of Otis Worldwide by 10,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 420 shares of the company’s stock valued at $38,000 after purchasing an additional 416 shares during the period. Institutional investors own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OTIS. Barclays increased their price objective on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Argus increased their price objective on Otis Worldwide from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Wells Fargo & Company reduced their price objective on Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Melius began coverage on Otis Worldwide in a research note on Tuesday, April 2nd. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $97.71.

Otis Worldwide Price Performance

OTIS opened at $96.50 on Thursday. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $100.84. The business has a 50-day moving average of $96.19 and a 200-day moving average of $93.48. The company has a market capitalization of $39.02 billion, a PE ratio of 27.89 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.44 billion. On average, equities research analysts expect that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were paid a $0.39 dividend. 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. The ex-dividend date of this dividend was Thursday, May 16th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.09%.

Insider Activity at Otis Worldwide

In related news, EVP Peiming Zheng sold 30,364 shares of the firm’s stock in a transaction that occurred 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 directly owns 15,570 shares of the company’s stock, valued at approximately $1,458,753.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

Otis Worldwide Company 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.