Yousif Capital Management LLC Has $5.95 Million Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)

Yousif Capital Management LLC lowered its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,460 shares of the company’s stock after selling 2,838 shares during the period. Yousif Capital Management LLC’s holdings in Otis Worldwide were worth $5,946,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in Otis Worldwide by 54.5% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock worth $544,000 after buying an additional 2,390 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Otis Worldwide by 13,638.0% during the 4th quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after purchasing an additional 150,563 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Otis Worldwide by 176.4% during the 4th quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock worth $10,378,000 after purchasing an additional 74,030 shares in the last quarter. Smith Salley & Associates acquired a new stake in shares of Otis Worldwide during the 4th quarter worth $1,113,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Otis Worldwide by 29.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,428 shares of the company’s stock worth $12,117,000 after purchasing an additional 30,530 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the business’s 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 of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total value of $3,426,360.96. Following the sale, the chief executive officer now owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Down 0.4 %

Shares of NYSE:OTIS opened at $93.02 on Friday. The stock has a market cap of $37.60 billion, a price-to-earnings ratio of 26.88 and a beta of 1.01. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $100.35. The business’s 50 day moving average is $96.42 and its 200 day moving average is $89.27.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.44 billion. As a group, equities research analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $0.39 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.56 annualized dividend and a yield of 1.68%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s payout ratio is currently 39.31%.

Analyst Ratings Changes

Several analysts recently weighed in on OTIS shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Otis Worldwide in a research note on Monday, February 5th. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Thursday, February 22nd. UBS Group raised their price objective on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays lifted their target price on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average target price of $96.86.

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.