Cetera Trust Company N.A Purchases Shares of 300 Otis Worldwide Co. (NYSE:OTIS)

Cetera Trust Company N.A purchased a new stake in shares of Otis Worldwide Co. (NYSE:OTIS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 300 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors have also added to or reduced their stakes in OTIS. Handelsbanken Fonder AB lifted its stake in shares of Otis Worldwide by 73.7% in the 4th quarter. Handelsbanken Fonder AB now owns 232,094 shares of the company’s stock valued at $20,765,000 after purchasing an additional 98,486 shares during the last quarter. CWM LLC lifted its stake in shares of Otis Worldwide by 4.8% in the 4th quarter. CWM LLC now owns 14,152 shares of the company’s stock valued at $1,266,000 after purchasing an additional 652 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $49,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Otis Worldwide by 1.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,294 shares of the company’s stock valued at $3,426,000 after purchasing an additional 428 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Otis Worldwide by 13.7% in the 4th quarter. Lindbrook Capital LLC now owns 5,892 shares of the company’s stock valued at $527,000 after purchasing an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 1.2 %

Shares of OTIS stock opened at $97.47 on Wednesday. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35. The stock has a market capitalization of $39.40 billion, a price-to-earnings ratio of 28.75 and a beta of 1.01. The stock has a fifty day simple moving average of $96.36 and a two-hundred day simple moving average of $89.21.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. During the same period in the previous year, the company posted $0.75 EPS. Research analysts predict that Otis Worldwide Co. will post 3.87 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s payout ratio is 40.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OTIS shares. Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Thursday, February 22nd. Wells Fargo & Company dropped their price objective on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. UBS Group boosted their price objective on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Melius started coverage on Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.00.

Insider Transactions at Otis Worldwide

In other news, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the transaction, the insider now directly 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 SEC, which is available at this hyperlink. In related news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction dated 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 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 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.