Brighton Jones LLC Has $248,000 Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Brighton Jones LLC grew its stake in Otis Worldwide Co. (NYSE:OTIS) by 5.0% in the second quarter, HoldingsChannel reports. The fund owned 2,580 shares of the company’s stock after acquiring an additional 124 shares during the period. Brighton Jones LLC’s holdings in Otis Worldwide were worth $248,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in shares of Otis Worldwide by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 626,857 shares of the company’s stock valued at $56,085,000 after purchasing an additional 4,979 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at $215,000. Nomura Asset Management Co. Ltd. raised its position in shares of Otis Worldwide by 1.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 145,812 shares of the company’s stock worth $13,046,000 after acquiring an additional 2,361 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of Otis Worldwide by 1,454.9% during the fourth quarter. Johnson Financial Group Inc. now owns 2,379 shares of the company’s stock worth $213,000 after acquiring an additional 2,226 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Otis Worldwide by 25.9% during the fourth quarter. Hsbc Holdings PLC now owns 702,517 shares of the company’s stock valued at $62,885,000 after acquiring an additional 144,449 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

OTIS opened at $95.52 on Monday. The firm’s fifty day moving average is $94.23 and its two-hundred day moving average is $95.93. The firm has a market cap of $38.26 billion, a PE ratio of 27.61 and a beta of 1.03. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month 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 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the business posted $0.92 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given 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 1.63%. Otis Worldwide’s dividend payout ratio is presently 45.09%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 price objective on shares of Otis Worldwide in a report on Thursday. Morgan Stanley assumed coverage on shares of Otis Worldwide in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Finally, Wells Fargo & Company lowered their target price on shares of 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 analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.00.

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.