Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lessened its holdings in Otis Worldwide Co. (NYSE:OTIS) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,516 shares of the company’s stock after selling 3,020 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Otis Worldwide were worth $9,530,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OTIS. Choreo LLC boosted its holdings in shares of Otis Worldwide by 4.9% in the 4th quarter. Choreo LLC now owns 6,118 shares of the company’s stock valued at $547,000 after acquiring an additional 286 shares during the last quarter. Addison Advisors LLC lifted its position in Otis Worldwide by 22.6% during the fourth quarter. Addison Advisors LLC now owns 3,474 shares of the company’s stock valued at $311,000 after purchasing an additional 641 shares during the period. Headlands Technologies LLC purchased a new stake in Otis Worldwide in the fourth quarter valued at $209,000. K.J. Harrison & Partners Inc grew its position in Otis Worldwide by 50.0% during the 4th quarter. K.J. Harrison & Partners Inc now owns 15,000 shares of the company’s stock worth $1,342,000 after purchasing an additional 5,000 shares during the period. Finally, Callan Capital LLC purchased a new position in shares of Otis Worldwide during the 4th quarter valued at about $215,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Otis Worldwide

In other news, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total transaction 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 $17,660,653.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction dated 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 in the company, valued at $6,128,661.40. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on OTIS shares. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 target price on shares of Otis Worldwide in a research note on Monday, February 5th. Melius initiated coverage on shares of Otis Worldwide in a research note on Tuesday, April 2nd. They issued a “hold” rating for the company. Barclays raised their price target on shares of Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Finally, Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.86.

Otis Worldwide Price Performance

OTIS stock traded down $0.59 during trading on Tuesday, hitting $92.78. The stock had a trading volume of 181,965 shares, compared to its average volume of 2,010,578. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35. The company’s 50-day moving average price is $96.48 and its two-hundred day moving average price is $89.57. The stock has a market capitalization of $37.51 billion, a P/E ratio of 26.99 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.44 billion. As a group, sell-side analysts expect that Otis Worldwide Co. will post 3.87 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, May 16th. Otis Worldwide’s dividend payout ratio is 39.31%.

About Otis Worldwide

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.