PFG Investments LLC decreased its position in Otis Worldwide Co. (NYSE:OTIS – Free Report) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,277 shares of the company’s stock after selling 127 shares during the quarter. PFG Investments LLC’s holdings in Otis Worldwide were worth $315,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Jamison Private Wealth Management Inc. raised its holdings in Otis Worldwide by 5,720.0% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock worth $28,000 after acquiring an additional 286 shares during the period. Hantz Financial Services Inc. bought a new stake in Otis Worldwide during the 2nd quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new stake in Otis Worldwide in the 1st quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in Otis Worldwide in the 4th quarter worth approximately $36,000. Finally, Versant Capital Management Inc boosted its position in shares of Otis Worldwide by 125.0% in the second quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock valued at $36,000 after acquiring an additional 205 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.
Otis Worldwide Trading Up 0.2 %
NYSE:OTIS opened at $92.72 on Friday. The stock has a market capitalization of $37.49 billion, a P/E ratio of 26.80 and a beta of 1.03. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.84. The firm has a 50 day moving average of $94.55 and a 200-day moving average of $95.91.
Otis Worldwide Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.56 annualized dividend and a yield of 1.68%. Otis Worldwide’s dividend payout ratio (DPR) is 45.09%.
Analysts Set New Price Targets
A number of research firms recently weighed in on OTIS. Morgan Stanley assumed coverage on Otis Worldwide in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Seven 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 an average rating of “Hold” and a consensus price target of $98.57.
Get Our Latest Stock Report on OTIS
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.
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