Czech National Bank Acquires 4,549 Shares of Otis Worldwide Co. (NYSE:OTIS)

Czech National Bank grew its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 5.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 81,597 shares of the company’s stock after acquiring an additional 4,549 shares during the period. Czech National Bank’s holdings in Otis Worldwide were worth $8,481,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OTIS. Meeder Asset Management Inc. lifted its stake in shares of Otis Worldwide by 264.9% in the second quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock worth $26,000 after acquiring an additional 196 shares during the period. Cranbrook Wealth Management LLC lifted its position in shares of Otis Worldwide by 675.7% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the period. Jamison Private Wealth Management Inc. boosted its stake in shares of Otis Worldwide by 5,720.0% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock valued at $28,000 after purchasing 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. Finally, Versant Capital Management Inc raised its stake in Otis Worldwide by 125.0% during the second quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock worth $36,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on OTIS shares. Barclays upped their price target on shares of Otis Worldwide from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 target price on shares of Otis Worldwide in a report on Thursday, September 19th. Wells Fargo & Company increased their price target on Otis Worldwide from $95.00 to $108.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Morgan Stanley initiated coverage on shares of Otis Worldwide in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.71.

Otis Worldwide Stock Up 0.1 %

Shares of OTIS opened at $102.99 on Friday. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $105.39. The stock has a market cap of $41.64 billion, a P/E ratio of 29.77 and a beta of 1.03. The business’s fifty day moving average is $96.01 and its 200 day moving average is $96.38.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, topping 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 company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. On average, analysts expect that Otis Worldwide Co. will post 3.88 EPS for the current year.

Otis Worldwide Announces Dividend

The business 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. This represents a $1.56 annualized dividend and a yield of 1.51%. The ex-dividend date was Friday, August 16th. Otis Worldwide’s dividend payout ratio is 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.