Fielder Capital Group LLC Makes New Investment in Otis Worldwide Co. (NYSE:OTIS)

Fielder Capital Group LLC purchased a new position in Otis Worldwide Co. (NYSE:OTIS) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,958 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JB Capital LLC boosted its position in shares of Otis Worldwide by 0.5% during the 4th quarter. JB Capital LLC now owns 26,572 shares of the company’s stock valued at $2,377,000 after acquiring an additional 129 shares during the last quarter. Baystate Wealth Management LLC boosted its position in shares of Otis Worldwide by 16.7% during the 4th quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock valued at $86,000 after acquiring an additional 138 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Otis Worldwide by 3.5% during the 3rd quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock valued at $336,000 after acquiring an additional 141 shares during the last quarter. ICW Investment Advisors LLC boosted its position in shares of Otis Worldwide by 2.4% during the 4th quarter. ICW Investment Advisors LLC now owns 6,129 shares of the company’s stock valued at $548,000 after acquiring an additional 144 shares during the last quarter. Finally, Spire Wealth Management boosted its position in shares of Otis Worldwide by 19.0% during the 4th quarter. Spire Wealth Management now owns 932 shares of the company’s stock valued at $82,000 after acquiring an additional 149 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Performance

OTIS stock traded up $0.97 during midday trading on Monday, reaching $93.09. The company’s stock had a trading volume of 1,301,584 shares, compared to its average volume of 2,019,861. The stock has a fifty day simple moving average of $96.44 and a two-hundred day simple moving average of $89.89. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.35. The firm has a market capitalization of $37.64 billion, a price-to-earnings ratio of 26.90 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.44 billion. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. As a group, analysts forecast that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.56 annualized dividend and a dividend yield of 1.68%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio (DPR) is currently 39.31%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OTIS. Barclays increased their target price on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Thursday, February 22nd. UBS Group increased their price target on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, February 16th. JPMorgan Chase & Co. increased their price target on Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Melius started coverage on Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.86.

Insider Activity

In related news, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the sale, 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 filing with the SEC, which is available through the SEC website. In related news, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the sale, 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 filing with the SEC, which is available through the SEC website. Also, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. 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.