Huntington National Bank Invests $3 Million in Otis Worldwide (NASDAQ:OTIS)

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Huntington National Bank acquired a new stake in shares of Otis Worldwide (NASDAQ:OTIS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 52,695 shares of the company’s stock, valued at approximately $2,996,000.

Other hedge funds have also recently made changes to their positions in the company. Benedict Financial Advisors Inc. purchased a new stake in Otis Worldwide during the 2nd quarter valued at about $467,000. CENTRAL TRUST Co purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at about $1,159,000. North Star Investment Management Corp. purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at about $97,000. Kistler Tiffany Companies LLC purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at about $291,000. Finally, Candriam Luxembourg S.C.A. purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at about $1,706,000.

In other Otis Worldwide news, insider Montlivault Stephane De sold 10,454 shares of Otis Worldwide stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $51.81, for a total value of $541,621.74. Following the transaction, the insider now owns 1,403 shares in the company, valued at $72,689.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

OTIS stock opened at $62.74 on Friday. The company has a 50-day moving average price of $57.45. The company has a market capitalization of $27.17 billion and a P/E ratio of 32.68. Otis Worldwide has a 1-year low of $38.00 and a 1-year high of $64.52.

Otis Worldwide (NASDAQ:OTIS) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.12. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.92 billion. The business’s quarterly revenue was down 9.6% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 21st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.80 annualized dividend and a yield of 1.28%. Otis Worldwide’s dividend payout ratio (DPR) is presently 41.67%.

OTIS has been the topic of a number of recent analyst reports. HSBC initiated coverage on shares of Otis Worldwide in a report on Monday, June 29th. They set a “reduce” rating and a $44.00 price target on the stock. Atlantic Securities began coverage on shares of Otis Worldwide in a research note on Tuesday, April 14th. They issued an “overweight” rating on the stock. William Blair started coverage on shares of Otis Worldwide in a report on Friday, May 8th. They set a “market perform” rating for the company. Barclays reaffirmed a “hold” rating on shares of Otis Worldwide in a research note on Friday, May 8th. Finally, Cowen reiterated a “buy” rating and set a $64.00 target price on shares of Otis Worldwide in a research report on Monday, June 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.63.

Otis Worldwide Profile

There is no company description available for Otis Worldwide Corp.

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

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