Brown Advisory Inc. Sells 8,579 Shares of Otis Worldwide Co. (NYSE:OTIS)

Brown Advisory Inc. lessened its position in Otis Worldwide Co. (NYSE:OTISGet Rating) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,041,458 shares of the company’s stock after selling 8,579 shares during the period. Brown Advisory Inc. owned approximately 0.25% of Otis Worldwide worth $81,345,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. NuWave Investment Management LLC acquired a new position in Otis Worldwide during the first quarter worth $26,000. Curi Wealth Management LLC acquired a new stake in Otis Worldwide in the fourth quarter valued at $27,000. LFA Lugano Financial Advisors SA acquired a new stake in Otis Worldwide in the first quarter valued at $27,000. Elmwood Wealth Management Inc. bought a new position in shares of Otis Worldwide in the fourth quarter valued at about $28,000. Finally, Intelligent Financial Strategies bought a new position in shares of Otis Worldwide in the fourth quarter valued at about $28,000. Institutional investors own 83.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Otis Worldwide from $67.00 to $70.00 and gave the stock an “underweight” rating in a research report on Thursday, July 28th. Credit Suisse Group raised their price target on shares of Otis Worldwide from $79.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, July 28th. BNP Paribas downgraded shares of Otis Worldwide from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $95.00 to $80.00 in a research note on Tuesday, July 5th. Exane BNP Paribas downgraded shares of Otis Worldwide from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $95.00 to $80.00 in a research note on Tuesday, July 5th. Finally, Cowen reduced their price objective on shares of Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and an average target price of $77.40.

Otis Worldwide Price Performance

NYSE:OTIS opened at $79.32 on Friday. The firm’s 50 day simple moving average is $72.43 and its 200 day simple moving average is $75.44. Otis Worldwide Co. has a one year low of $66.97 and a one year high of $92.84. The company has a market cap of $33.33 billion, a PE ratio of 27.26 and a beta of 0.88.

Otis Worldwide (NYSE:OTISGet Rating) last posted its earnings results on Wednesday, July 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.78 by $0.08. Otis Worldwide had a net margin of 8.83% and a negative return on equity of 32.91%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the company earned $0.79 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts expect that Otis Worldwide Co. will post 3.2 EPS for the current year.

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Friday, August 19th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.16 annualized dividend and a yield of 1.46%. Otis Worldwide’s dividend payout ratio is presently 39.86%.

Insiders Place Their Bets

In other Otis Worldwide news, CFO Rahul Ghai sold 2,618 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $78.55, for a total transaction of $205,643.90. Following the completion of the transaction, the chief financial officer now owns 7,063 shares in the company, valued at approximately $554,798.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Otis Worldwide news, CFO Rahul Ghai sold 2,618 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $78.55, for a total transaction of $205,643.90. Following the completion of the transaction, the chief financial officer now owns 7,063 shares in the company, valued at approximately $554,798.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nora E. Lafreniere sold 13,576 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $76.54, for a total transaction of $1,039,107.04. Following the transaction, the executive vice president now owns 12,376 shares of the company’s stock, valued at approximately $947,259.04. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Otis Worldwide Company Profile

(Get Rating)

Otis Worldwide Corporation manufactures, installs, and services 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.

See Also

Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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