Signaturefd LLC Grows Holdings in Otis Worldwide Co. (NYSE:OTIS)

Signaturefd LLC boosted its holdings in Otis Worldwide Co. (NYSE:OTIS) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,701 shares of the company’s stock after purchasing an additional 718 shares during the quarter. Signaturefd LLC’s holdings in Otis Worldwide were worth $528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Resonant Capital Advisors LLC increased its stake in Otis Worldwide by 3.1% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,455 shares of the company’s stock valued at $320,000 after buying an additional 105 shares during the period. Montis Financial LLC increased its stake in Otis Worldwide by 5.2% in the 4th quarter. Montis Financial LLC now owns 2,216 shares of the company’s stock valued at $205,000 after buying an additional 110 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in Otis Worldwide by 1.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 6,945 shares of the company’s stock valued at $643,000 after buying an additional 114 shares during the period. Mesirow Financial Investment Management Inc. increased its stake in Otis Worldwide by 1.8% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 6,480 shares of the company’s stock valued at $600,000 after buying an additional 117 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in Otis Worldwide by 4.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,867 shares of the company’s stock valued at $299,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

OTIS has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Wolfe Research cut shares of Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 price target on the stock. in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $102.88.

Otis Worldwide Trading Down 0.8 %

OTIS stock opened at $101.90 on Friday. Otis Worldwide Co. has a twelve month low of $90.12 and a twelve month high of $106.83. The company has a market capitalization of $40.40 billion, a P/E ratio of 25.10 and a beta of 1.05. The firm has a 50 day simple moving average of $97.52 and a 200-day simple moving average of $98.27.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.02). Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. On average, research analysts predict that Otis Worldwide Co. will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, February 14th. Otis Worldwide’s payout ratio is 38.42%.

Otis Worldwide declared that its Board of Directors has approved a share repurchase plan on Thursday, January 16th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 28,440 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $95.77, for a total value of $2,723,698.80. Following the sale, the chief executive officer now directly owns 230,153 shares in the company, valued at approximately $22,041,752.81. This trade represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Montlivault Stephane De sold 6,660 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the sale, the insider now owns 63,931 shares in the company, valued at $6,731,934.30. The trade was a 9.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,281 shares of company stock worth $10,747,553. 0.23% of the stock is owned by insiders.

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.