Anchor Capital Advisors LLC Sells 3,020 Shares of Otis Worldwide Co. (NYSE:OTIS)

Anchor Capital Advisors LLC decreased its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a report on Monday, February 5th. JPMorgan Chase & Co. raised their price objective on Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Barclays boosted their price objective on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company cut 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, April 25th. Finally, Melius assumed coverage on shares of Otis Worldwide in a research note on Tuesday, April 2nd. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average target price of $96.86.

Otis Worldwide Trading Down 0.6 %

Otis Worldwide stock traded down $0.59 during trading on Tuesday, hitting $92.78. 181,965 shares of the company were exchanged, compared to its average volume of 2,010,578. The company has a market capitalization of $37.51 billion, a P/E ratio of 26.99 and a beta of 1.01. The business’s 50 day moving average is $96.48 and its 200 day moving average is $89.57. Otis Worldwide Co. has a 52 week low of $73.32 and a 52 week high of $100.35.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. Otis Worldwide had a net margin of 9.99% and a negative return on equity of 31.02%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. Equities analysts expect that Otis Worldwide Co. will post 3.87 EPS for the current 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 issued a $0.39 dividend. The ex-dividend date is Thursday, May 16th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.68%. Otis Worldwide’s dividend payout ratio is currently 39.31%.

Insider Buying and Selling

In related news, CEO Judith Fran Marks sold 37,312 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 192,319 shares in the company, valued at $17,660,653.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction 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 directly 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 business’s stock in a transaction 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 completion of the sale, 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. 0.23% of the stock is currently owned by corporate insiders.

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.