Otis Worldwide Co. (NYSE:OTIS) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. lessened its holdings in Otis Worldwide Co. (NYSE:OTIS) by 19.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,860 shares of the company’s stock after selling 675 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Otis Worldwide were worth $275,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Meeder Asset Management Inc. boosted its stake in Otis Worldwide by 264.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock worth $26,000 after purchasing an additional 196 shares in the last quarter. Jamison Private Wealth Management Inc. raised its holdings in shares of Otis Worldwide by 5,720.0% in the second quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock worth $28,000 after buying an additional 286 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Otis Worldwide during the second quarter worth $29,000. LifeSteps Financial Inc. acquired a new stake in shares of Otis Worldwide during the first quarter worth $31,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 1.6 %

Shares of OTIS opened at $94.18 on Friday. The stock’s 50-day moving average price is $94.49 and its 200-day moving average price is $95.93. The company has a market capitalization of $38.08 billion, a price-to-earnings ratio of 27.22 and a beta of 1.03. Otis Worldwide Co. has a 52 week low of $73.32 and a 52 week high of $100.84.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter last year, the company earned $0.92 EPS. The business’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a $0.39 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.66%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.09%.

Analyst Ratings Changes

A number of analysts have commented on OTIS shares. Wells Fargo & Company lowered their price target on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Morgan Stanley initiated coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $98.57.

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.