Otis Worldwide Co. (NYSE:OTIS) Shares Bought by Candriam S.C.A.

Candriam S.C.A. increased its position in Otis Worldwide Co. (NYSE:OTIS) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 292,630 shares of the company’s stock after buying an additional 2,858 shares during the quarter. Candriam S.C.A. owned about 0.07% of Otis Worldwide worth $28,167,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jamison Private Wealth Management Inc. lifted 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 valued at $28,000 after buying an additional 286 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Otis Worldwide in the second quarter valued at $29,000. LifeSteps Financial Inc. purchased a new stake in shares of Otis Worldwide during the first quarter valued at $31,000. Versant Capital Management Inc lifted its holdings in shares of Otis Worldwide by 125.0% during the second quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock valued at $36,000 after purchasing an additional 205 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Otis Worldwide by 1,314.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 396 shares of the company’s stock valued at $38,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Down 1.1 %

NYSE:OTIS opened at $91.43 on Friday. The firm has a market capitalization of $36.97 billion, a price-to-earnings ratio of 26.42 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 business’s fifty day moving average price is $94.84 and its 200 day moving average price is $95.94.

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

Otis Worldwide Dividend Announcement

The company also recently announced 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 1.71%. The ex-dividend date was Friday, August 16th. Otis Worldwide’s payout ratio is currently 45.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OTIS shares. Morgan Stanley started coverage on Otis Worldwide in a report on Friday. They set an “equal weight” rating and a $97.00 target price for the company. Argus upped their target price on Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Wells Fargo & Company reduced their target price on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $98.57.

Otis Worldwide Company 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.