Cambridge Trust Co. Increases Holdings in Otis Worldwide Co. (NYSE:OTIS)

Cambridge Trust Co. boosted its holdings in Otis Worldwide Co. (NYSE:OTIS) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,387 shares of the company’s stock after purchasing an additional 396 shares during the period. Cambridge Trust Co.’s holdings in Otis Worldwide were worth $482,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Otis Worldwide in the 4th quarter worth $28,000. Orion Capital Management LLC bought a new stake in shares of Otis Worldwide in the third quarter worth about $30,000. Janiczek Wealth Management LLC increased its holdings in Otis Worldwide by 141.1% during the 3rd quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares during the period. NBC Securities Inc. bought a new position in Otis Worldwide during the 3rd quarter valued at approximately $33,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in Otis Worldwide in the 4th quarter worth approximately $33,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Otis Worldwide

In related news, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the transaction, the insider now owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction that occurred 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 approximately $17,660,653.77. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Up 0.6 %

OTIS stock opened at $95.49 on Friday. The firm’s fifty day simple moving average is $96.03 and its two-hundred day simple moving average is $88.73. The stock has a market capitalization of $38.60 billion, a price-to-earnings ratio of 28.17 and a beta of 1.01. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the company posted $0.75 EPS. As a group, equities research analysts expect that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.42%. Otis Worldwide’s dividend payout ratio is currently 40.12%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OTIS. Melius began coverage on Otis Worldwide in a research note on Tuesday, April 2nd. They set a “hold” rating on the stock. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Thursday, February 22nd. Wells Fargo & Company lowered their target price on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. UBS Group raised their price target on shares of Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Otis Worldwide in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and an average target price of $94.29.

Otis Worldwide Company 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.