AQR Capital Management LLC raised its position in Otis Worldwide Co. (NYSE:OTIS – Free Report) by 17.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,160 shares of the company’s stock after buying an additional 32,785 shares during the quarter. AQR Capital Management LLC owned about 0.06% of Otis Worldwide worth $21,705,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in Otis Worldwide by 264.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock valued at $26,000 after acquiring an additional 196 shares during the period. Jamison Private Wealth Management Inc. increased its stake 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 worth $28,000 after purchasing an additional 286 shares in the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Otis Worldwide by 675.7% in the second quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Hantz Financial Services Inc. bought a new position in Otis Worldwide in the 2nd quarter worth approximately $29,000. Finally, LifeSteps Financial Inc. bought a new stake in Otis Worldwide during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Otis Worldwide Trading Down 0.5 %
OTIS stock opened at $103.94 on Tuesday. Otis Worldwide Co. has a 1-year low of $73.32 and a 1-year high of $105.24. The stock has a market cap of $41.63 billion, a price-to-earnings ratio of 30.04 and a beta of 1.03. The company’s 50 day moving average is $94.48 and its 200 day moving average is $96.09.
Otis Worldwide Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.09%.
Analyst Ratings Changes
A number of research firms recently issued reports on OTIS. Wells Fargo & Company decreased their price objective on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. Finally, Morgan Stanley initiated 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 objective for the company. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $100.00.
Get Our Latest Stock Report on OTIS
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.
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