Asset Management One Co. Ltd. trimmed its position in shares of Otis Worldwide Co. (NYSE:OTIS – Free Report) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,808 shares of the company’s stock after selling 939 shares during the period. Asset Management One Co. Ltd.’s holdings in Otis Worldwide were worth $15,363,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Otis Worldwide by 12.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,247,918 shares of the company’s stock valued at $793,945,000 after purchasing an additional 907,972 shares in the last quarter. PineStone Asset Management Inc. grew its stake in shares of Otis Worldwide by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 4,464,131 shares of the company’s stock worth $429,717,000 after acquiring an additional 2,590,780 shares in the last quarter. Sarasin & Partners LLP increased its position in shares of Otis Worldwide by 27.2% during the second quarter. Sarasin & Partners LLP now owns 4,135,271 shares of the company’s stock worth $398,061,000 after acquiring an additional 883,659 shares during the period. Legal & General Group Plc raised its stake in shares of Otis Worldwide by 0.4% in the second quarter. Legal & General Group Plc now owns 3,660,401 shares of the company’s stock valued at $352,351,000 after acquiring an additional 15,021 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Otis Worldwide by 4.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,191,118 shares of the company’s stock valued at $316,782,000 after purchasing an additional 126,684 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.
Otis Worldwide Trading Up 0.4 %
Shares of Otis Worldwide stock opened at $100.56 on Thursday. The company has a fifty day simple moving average of $99.37 and a 200-day simple moving average of $96.98. Otis Worldwide Co. has a 12-month low of $79.54 and a 12-month high of $106.33. The stock has a market cap of $40.17 billion, a price-to-earnings ratio of 25.08 and a beta of 1.04.
Otis Worldwide Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 15th. Otis Worldwide’s dividend payout ratio is currently 38.90%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on OTIS shares. Morgan Stanley started coverage on Otis Worldwide in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Barclays decreased their price target on shares of Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Finally, Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $102.00.
Get Our Latest Analysis 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.
Featured Stories
- Five stocks we like better than Otis Worldwide
- Best Aerospace Stocks Investing
- What a Trump Win Looks Like for the Market Now and Into 2025
- CD Calculator: Certificate of Deposit Calculator
- Russell 2000 Surge Post-Election: How to Play the Small-Cap Pop
- Industrial Products Stocks Investing
- Macro Headwinds Send Microchip Technology Stock to the Buy Zone
Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Co. (NYSE:OTIS – Free Report).
Receive News & Ratings for Otis Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otis Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.