Bath Savings Trust Co grew its position in Otis Worldwide Co. (NYSE:OTIS) by 41.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,146 shares of the company’s stock after purchasing an additional 1,809 shares during the period. Bath Savings Trust Co’s holdings in Otis Worldwide were worth $415,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of OTIS. Rockland Trust Co. raised its holdings in Otis Worldwide by 2.1% in the fourth quarter. Rockland Trust Co. now owns 176,048 shares of the company’s stock valued at $11,892,000 after buying an additional 3,594 shares during the period. Toronto Dominion Bank acquired a new stake in shares of Otis Worldwide in the 2nd quarter valued at $28,209,000. Sirios Capital Management L P bought a new position in shares of Otis Worldwide in the 3rd quarter valued at $3,469,000. Worldquant Millennium Advisors LLC lifted its position in shares of Otis Worldwide by 1.2% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 38,988 shares of the company’s stock worth $2,434,000 after buying an additional 474 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in Otis Worldwide by 13.5% in the third quarter. IFM Investors Pty Ltd now owns 34,527 shares of the company’s stock valued at $2,155,000 after buying an additional 4,102 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on OTIS shares. BidaskClub upgraded shares of Otis Worldwide from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 22nd. Wolfe Research upgraded Otis Worldwide from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 24th. JPMorgan Chase & Co. boosted their price target on Otis Worldwide from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Credit Suisse Group upped their price objective on Otis Worldwide from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, October 27th. Finally, Cowen reiterated a “buy” rating and set a $75.00 target price on shares of Otis Worldwide in a research report on Friday, December 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Otis Worldwide currently has an average rating of “Hold” and an average price target of $64.88.
Shares of OTIS stock opened at $63.97 on Thursday. Otis Worldwide Co. has a one year low of $38.00 and a one year high of $68.21. The business’s 50 day simple moving average is $66.13 and its 200 day simple moving average is $64.66.
Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Monday, October 26th. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.12. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.17 billion. As a group, sell-side analysts anticipate that Otis Worldwide Co. will post 2.31 EPS for the current fiscal year.
About Otis Worldwide
Otis Worldwide Corporation manufactures, installs, and services elevators and escalators worldwide. The company operates through 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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