ELCO Management Co. LLC Sells 202 Shares of Otis Worldwide Corporation $OTIS

ELCO Management Co. LLC trimmed its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,027 shares of the company’s stock after selling 202 shares during the quarter. ELCO Management Co. LLC’s holdings in Otis Worldwide were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of OTIS. Sequoia Financial Advisors LLC increased its stake in shares of Otis Worldwide by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,936 shares of the company’s stock worth $1,025,000 after acquiring an additional 719 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Otis Worldwide by 7.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,401 shares of the company’s stock worth $6,853,000 after acquiring an additional 4,517 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Otis Worldwide by 64.8% in the 1st quarter. Golden State Wealth Management LLC now owns 613 shares of the company’s stock worth $63,000 after acquiring an additional 241 shares in the last quarter. Amalgamated Bank increased its stake in shares of Otis Worldwide by 0.7% in the 1st quarter. Amalgamated Bank now owns 79,428 shares of the company’s stock worth $8,197,000 after acquiring an additional 523 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of Otis Worldwide by 340.7% in the 1st quarter. Valley National Advisers Inc. now owns 833 shares of the company’s stock worth $85,000 after acquiring an additional 644 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Down 0.7%

Shares of NYSE OTIS opened at $91.38 on Wednesday. The firm’s 50-day moving average price is $89.51 and its 200-day moving average price is $93.13. The company has a market cap of $35.86 billion, a PE ratio of 24.17, a PEG ratio of 3.61 and a beta of 1.00. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OTIS shares. Morgan Stanley increased their price target on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Wolfe Research set a $109.00 price objective on shares of Otis Worldwide and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Otis Worldwide in a research report on Monday, July 14th. They set a “hold” rating and a $109.00 price objective on the stock. Royal Bank Of Canada cut their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $104.63.

Otis Worldwide 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.