Otis Worldwide Co. (NYSE:OTIS) Holdings Raised by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its stake in Otis Worldwide Co. (NYSE:OTIS) by 43.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,108 shares of the company’s stock after purchasing an additional 2,771 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Otis Worldwide were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. JB Capital LLC grew its position in Otis Worldwide by 0.5% during the 4th quarter. JB Capital LLC now owns 26,572 shares of the company’s stock worth $2,377,000 after purchasing an additional 129 shares in the last quarter. Baystate Wealth Management LLC grew its holdings in shares of Otis Worldwide by 16.7% during the fourth quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock valued at $86,000 after buying an additional 138 shares in the last quarter. Sigma Planning Corp raised its position in Otis Worldwide by 3.5% during the third quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock valued at $336,000 after buying an additional 141 shares during the period. ICW Investment Advisors LLC lifted its stake in Otis Worldwide by 2.4% in the 4th quarter. ICW Investment Advisors LLC now owns 6,129 shares of the company’s stock worth $548,000 after acquiring an additional 144 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Otis Worldwide by 19.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 943 shares of the company’s stock worth $84,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Insider Buying and Selling at Otis Worldwide

In other news, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the sale, the insider now owns 67,274 shares in the company, valued at approximately $6,128,661.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the transaction, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Otis Worldwide Trading Up 0.4 %

Otis Worldwide stock opened at $92.12 on Friday. Otis Worldwide Co. has a 1-year low of $73.32 and a 1-year high of $100.35. The firm’s fifty day simple moving average is $96.44 and its 200-day simple moving average is $89.75. The company has a market capitalization of $37.25 billion, a P/E ratio of 26.62 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, equities research analysts predict that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.56 dividend on an annualized basis and a yield of 1.69%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio is presently 39.31%.

Analyst Upgrades and Downgrades

OTIS has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Argus upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Thursday, February 22nd. JPMorgan Chase & Co. lifted their target price on shares of Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Melius began coverage on shares of Otis Worldwide in a research note on Tuesday, April 2nd. They issued a “hold” rating on the stock. Finally, UBS Group lifted their price objective on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $96.86.

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.