2,473 Shares in Otis Worldwide Co. (NYSE:OTIS) Purchased by Montis Financial LLC

Montis Financial LLC bought a new position in Otis Worldwide Co. (NYSE:OTIS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,473 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors have also made changes to their positions in the company. Cetera Trust Company N.A bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Otis Worldwide in the fourth quarter worth approximately $28,000. Orion Capital Management LLC acquired a new stake in shares of Otis Worldwide during the third quarter valued at approximately $30,000. NBC Securities Inc. purchased a new stake in shares of Otis Worldwide in the 3rd quarter valued at approximately $33,000. Finally, CNB Bank raised its stake in Otis Worldwide by 81.0% during the 3rd quarter. CNB Bank now owns 429 shares of the company’s stock valued at $34,000 after purchasing an additional 192 shares during the period. 88.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OTIS shares. Melius initiated coverage on shares of Otis Worldwide in a research note on Tuesday, April 2nd. They issued a “hold” rating for the company. Barclays upped their price objective on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. UBS Group boosted their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. boosted their price target on Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average target price of $96.86.

Insider Activity

In other news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction on Wednesday, February 21st. The stock was 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 SEC, which is available at the SEC website. In other Otis Worldwide news, 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 sale, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at approximately $17,660,653.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction dated 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 sale, 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. 0.23% of the stock is owned by company insiders.

Otis Worldwide Trading Up 0.4 %

Shares of Otis Worldwide stock traded up $0.34 on Thursday, reaching $91.77. 1,958,071 shares of the company were exchanged, compared to its average volume of 2,030,820. Otis Worldwide Co. has a one year low of $73.32 and a one year high of $100.35. The company has a 50-day moving average of $96.48 and a 200 day moving average of $89.66. The company has a market capitalization of $37.10 billion, a price-to-earnings ratio of 26.53 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The business 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%. Analysts predict that Otis Worldwide Co. will post 3.88 earnings per share 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 dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.70%. Otis Worldwide’s dividend payout ratio (DPR) is currently 39.31%.

About Otis Worldwide

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.