Donaldson Capital Management LLC Has $295,000 Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)

Donaldson Capital Management LLC cut its position in Otis Worldwide Co. (NYSE:OTIS) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,299 shares of the company’s stock after selling 346 shares during the period. Donaldson Capital Management LLC’s holdings in Otis Worldwide were worth $295,000 at the end of the most recent reporting period.

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

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock traded down $0.73 during midday trading on Tuesday, hitting $95.32. 142,055 shares of the company traded hands, compared to its average volume of 1,975,443. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of 28.33 and a beta of 1.01. The firm’s fifty day moving average price is $95.79 and its 200-day moving average price is $88.53. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $100.35.

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

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s payout ratio is 40.12%.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the business’s 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the transaction, the insider now owns 67,274 shares in the company, valued at approximately $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the completion of the transaction, the chief executive officer now 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 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays lifted their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Otis Worldwide in a research note on Monday, February 5th. Vertical Research cut shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Argus upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Thursday, February 22nd. Finally, UBS Group lifted their price objective on shares of Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Otis Worldwide presently 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.