Janus Henderson Group PLC Sells 384 Shares of Otis Worldwide Co. (NYSE:OTIS)

Janus Henderson Group PLC trimmed its holdings in Otis Worldwide Co. (NYSE:OTIS) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,811 shares of the company’s stock after selling 384 shares during the period. Janus Henderson Group PLC’s holdings in Otis Worldwide were worth $6,840,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Hilltop Holdings Inc. lifted its position in shares of Otis Worldwide by 22.2% in the third quarter. Hilltop Holdings Inc. now owns 3,596 shares of the company’s stock valued at $374,000 after buying an additional 653 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Otis Worldwide in the third quarter valued at approximately $5,269,000. Concentric Capital Strategies LP acquired a new stake in shares of Otis Worldwide in the third quarter valued at approximately $4,521,000. Paloma Partners Management Co lifted its position in shares of Otis Worldwide by 154.8% in the third quarter. Paloma Partners Management Co now owns 17,237 shares of the company’s stock valued at $1,792,000 after buying an additional 10,472 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY lifted its position in shares of Otis Worldwide by 7.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,667 shares of the company’s stock valued at $277,000 after buying an additional 194 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays cut Otis Worldwide from an “equal weight” rating to an “underweight” rating and set a $94.00 price target for the company. in a report on Thursday, December 5th. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Morgan Stanley assumed coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. UBS Group assumed coverage on Otis Worldwide in a report on Wednesday, November 13th. They set a “neutral” rating and a $113.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $104.57.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $100.90 on Tuesday. Otis Worldwide Co. has a fifty-two week low of $85.42 and a fifty-two week high of $106.33. The business has a fifty day moving average price of $101.91 and a two-hundred day moving average price of $97.92. The stock has a market capitalization of $40.31 billion, a PE ratio of 25.16 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, equities analysts expect that Otis Worldwide Co. will post 3.85 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 1.55%. Otis Worldwide’s payout ratio is presently 38.90%.

Insiders Place Their Bets

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $101.02, for a total value of $909,180.00. Following the completion of the transaction, the executive vice president now owns 9,992 shares of the company’s stock, valued at $1,009,391.84. This represents a 47.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company’s stock.

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.