ICW Investment Advisors LLC Acquires 144 Shares of Otis Worldwide Co. (NYSE:OTIS)

ICW Investment Advisors LLC increased its stake in Otis Worldwide Co. (NYSE:OTIS) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 6,129 shares of the company’s stock after purchasing an additional 144 shares during the period. ICW Investment Advisors LLC’s holdings in Otis Worldwide were worth $548,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in OTIS. Commonwealth Equity Services LLC lifted its stake in shares of Otis Worldwide by 0.5% in the third quarter. Commonwealth Equity Services LLC now owns 154,776 shares of the company’s stock worth $12,430,000 after buying an additional 733 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Otis Worldwide by 16.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 256,536 shares of the company’s stock valued at $20,602,000 after acquiring an additional 37,109 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Otis Worldwide by 13.1% during the third quarter. Stratos Wealth Partners LTD. now owns 6,759 shares of the company’s stock valued at $543,000 after acquiring an additional 785 shares during the period. Stratos Wealth Advisors LLC grew its position in shares of Otis Worldwide by 6.1% in the third quarter. Stratos Wealth Advisors LLC now owns 2,782 shares of the company’s stock valued at $223,000 after purchasing an additional 160 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Otis Worldwide by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 200,100 shares of the company’s stock worth $16,070,000 after purchasing an additional 3,300 shares during the period. Institutional investors own 88.03% of the company’s stock.

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 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 document filed with the SEC, which can be accessed through this hyperlink. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the company’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 sale, 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 this link. Also, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide 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 completion of the transaction, the insider now owns 67,274 shares of the company’s stock, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OTIS shares. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Otis Worldwide in a research note on Monday, February 5th. Barclays raised their price objective on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Melius began coverage on shares of Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, UBS Group raised their price target on shares of Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.86.

Otis Worldwide Price Performance

OTIS opened at $91.43 on Thursday. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $100.35. The company has a market capitalization of $36.97 billion, a P/E ratio of 26.42 and a beta of 1.03. The firm’s fifty day moving average price is $96.49 and its two-hundred day moving average price is $89.65.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.44 billion. On average, equities research analysts expect that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.39 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, May 16th. This represents a $1.56 annualized dividend and a yield of 1.71%. Otis Worldwide’s payout ratio is currently 39.31%.

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.