Enterprise Financial Services Corp Cuts Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Enterprise Financial Services Corp trimmed its position in shares of Otis Worldwide Co. (NYSE:OTISGet Rating) by 8.1% in the 4th quarter, Holdings Channel reports. The firm owned 4,748 shares of the company’s stock after selling 420 shares during the period. Enterprise Financial Services Corp’s holdings in Otis Worldwide were worth $413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC lifted its stake in Otis Worldwide by 483.3% during the 4th quarter. CVA Family Office LLC now owns 315 shares of the company’s stock worth $27,000 after acquiring an additional 261 shares in the last quarter. Curi Wealth Management LLC purchased a new position in shares of Otis Worldwide in the 4th quarter valued at about $27,000. Laffer Tengler Investments purchased a new position in Otis Worldwide during the 3rd quarter worth approximately $28,000. Elmwood Wealth Management Inc. purchased a new position in Otis Worldwide during the 4th quarter worth approximately $28,000. Finally, HHM Wealth Advisors LLC grew its stake in Otis Worldwide by 103.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 339 shares of the company’s stock worth $30,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 83.32% of the company’s stock.

Several analysts have recently commented on the company. Credit Suisse Group reduced their price target on Otis Worldwide from $88.00 to $81.00 and set a “neutral” rating for the company in a report on Tuesday, April 26th. Cowen dropped their price target on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, April 26th. Cowen lowered their price objective on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, April 26th. Finally, Barclays raised Otis Worldwide from an “equal weight” rating to an “overweight” rating and set a $82.00 price target for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.56.

NYSE OTIS traded down $1.78 during trading on Wednesday, reaching $73.71. The company’s stock had a trading volume of 50,187 shares, compared to its average volume of 2,762,776. The firm has a 50 day moving average price of $75.31 and a 200 day moving average price of $79.81. Otis Worldwide Co. has a 12 month low of $71.07 and a 12 month high of $92.84. The firm has a market capitalization of $31.16 billion, a price-to-earnings ratio of 25.94 and a beta of 0.88.

Otis Worldwide (NYSE:OTISGet Rating) last posted its quarterly earnings data on Monday, April 25th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Otis Worldwide had a net margin of 8.73% and a negative return on equity of 35.81%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the company posted $0.72 earnings per share. Otis Worldwide’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Otis Worldwide Co. will post 3.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 20th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, May 19th. Otis Worldwide’s payout ratio is presently 39.86%.

Otis Worldwide Profile (Get Rating)

Otis Worldwide Corporation manufactures, installs, and services 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.

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Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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