Otis Worldwide Co. (NYSE:OTIS) Shares Acquired by Allied Investment Advisors LLC

Allied Investment Advisors LLC increased its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,500 shares of the company’s stock after acquiring an additional 1,549 shares during the quarter. Otis Worldwide makes up approximately 2.1% of Allied Investment Advisors LLC’s holdings, making the stock its 22nd biggest holding. Allied Investment Advisors LLC’s holdings in Otis Worldwide were worth $10,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of OTIS. Vanguard Group Inc. lifted its stake in Otis Worldwide by 14.8% in the fourth quarter. Vanguard Group Inc. now owns 45,773,358 shares of the company’s stock valued at $4,095,342,000 after buying an additional 5,913,933 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Otis Worldwide by 12.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,247,918 shares of the company’s stock valued at $793,945,000 after purchasing an additional 907,972 shares during the period. PineStone Asset Management Inc. grew its position in Otis Worldwide by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,464,131 shares of the company’s stock worth $429,717,000 after purchasing an additional 2,590,780 shares during the last quarter. Sarasin & Partners LLP increased its position in Otis Worldwide by 27.2% in the 2nd quarter. Sarasin & Partners LLP now owns 4,135,271 shares of the company’s stock valued at $398,061,000 after acquiring an additional 883,659 shares during the period. Finally, Legal & General Group Plc lifted its position in Otis Worldwide by 0.4% in the second quarter. Legal & General Group Plc now owns 3,660,401 shares of the company’s stock worth $352,351,000 after purchasing an additional 15,021 shares during the period. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.2 %

Shares of OTIS stock traded up $0.26 during mid-day trading on Friday, reaching $104.56. The stock had a trading volume of 1,505,952 shares, compared to its average volume of 2,125,662. The firm’s 50 day simple moving average is $95.08 and its 200 day simple moving average is $96.24. The firm has a market cap of $41.88 billion, a PE ratio of 30.22 and a beta of 1.03. Otis Worldwide Co. has a one year low of $73.32 and a one year high of $105.39.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.74 billion. Otis Worldwide had a negative return on equity of 31.65% and a net margin of 10.35%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. Sell-side analysts forecast that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.56 annualized dividend and a dividend yield of 1.49%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OTIS. Wells Fargo & Company dropped their target price on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. Barclays raised their price objective on Otis Worldwide from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Morgan Stanley began 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. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and a consensus target price of $100.86.

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.