Stevens Capital Management LP Has $676,000 Stake in Otis Worldwide Co. (NYSE:OTIS)

Stevens Capital Management LP boosted its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 142.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,555 shares of the company’s stock after purchasing an additional 4,435 shares during the quarter. Stevens Capital Management LP’s holdings in Otis Worldwide were worth $676,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OTIS. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Otis Worldwide by 54.5% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock worth $544,000 after purchasing an additional 2,390 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Otis Worldwide by 13,638.0% during the fourth quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after purchasing an additional 150,563 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Otis Worldwide by 176.4% during the fourth quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock worth $10,378,000 after purchasing an additional 74,030 shares during the last quarter. Smith Salley & Associates bought a new stake in shares of Otis Worldwide during the fourth quarter worth $1,113,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Otis Worldwide by 29.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 135,428 shares of the company’s stock valued at $12,117,000 after acquiring an additional 30,530 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

OTIS stock traded down $0.35 during mid-day trading on Thursday, reaching $93.02. The company had a trading volume of 2,219,272 shares, compared to its average volume of 2,033,041. The stock has a 50 day simple moving average of $96.41 and a two-hundred day simple moving average of $89.24. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 27.48 and a beta of 1.01. Otis Worldwide Co. has a 52 week low of $73.32 and a 52 week high of $100.35.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.44 billion. On average, equities analysts predict that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.68%. Otis Worldwide’s payout ratio is currently 40.12%.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction 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 of the company’s stock, valued at approximately $17,660,653.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, 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.

Analyst Ratings Changes

Several equities analysts recently issued reports on OTIS shares. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Melius initiated coverage on Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating on the stock. Wells Fargo & Company reduced 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. UBS Group raised their price target on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Thursday, February 22nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.