Otis Worldwide (NYSE:OTIS) CEO Judith Fran Marks Sells 56,107 Shares

Otis Worldwide Corporation (NYSE:OTIS) CEO Judith Fran Marks sold 56,107 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $90.89, for a total value of $5,099,565.23. Following the sale, the chief executive officer directly owned 231,072 shares of the company’s stock, valued at approximately $21,002,134.08. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Judith Fran Marks also recently made the following trade(s):

• On Wednesday, February 4th, Judith Fran Marks sold 46,780 shares of Otis Worldwide stock. The stock was sold at an average price of $89.57, for a total value of $4,190,084.60.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $91.20 on Friday. Otis Worldwide Corporation has a 52 week low of $84.00 and a 52 week high of $106.83. The company has a market cap of $35.54 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. The firm has a 50 day simple moving average of $88.44 and a 200 day simple moving average of $89.02.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, January 28th. The company reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Otis Worldwide had a negative return on equity of 30.42% and a net margin of 9.59%.Otis Worldwide’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. On average, equities analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be given a $0.42 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. Otis Worldwide’s dividend payout ratio is presently 48.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OTIS. Larson Financial Group LLC grew its position in shares of Otis Worldwide by 15.3% in the fourth quarter. Larson Financial Group LLC now owns 8,713 shares of the company’s stock valued at $761,000 after purchasing an additional 1,154 shares during the last quarter. ProShare Advisors LLC boosted its stake in Otis Worldwide by 6.0% during the 4th quarter. ProShare Advisors LLC now owns 84,758 shares of the company’s stock valued at $7,404,000 after purchasing an additional 4,830 shares during the period. TD Private Client Wealth LLC grew its holdings in Otis Worldwide by 28.2% in the 4th quarter. TD Private Client Wealth LLC now owns 7,179 shares of the company’s stock valued at $627,000 after buying an additional 1,577 shares during the last quarter. Gabelli Funds LLC grew its holdings in Otis Worldwide by 5.8% in the 4th quarter. Gabelli Funds LLC now owns 5,200 shares of the company’s stock valued at $454,000 after buying an additional 285 shares during the last quarter. Finally, North Dakota State Investment Board bought a new position in Otis Worldwide in the 4th quarter worth approximately $1,772,000. Institutional investors own 88.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen cut Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Barclays raised their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Wells Fargo & Company dropped their price target on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, December 15th. Finally, BNP Paribas Exane raised shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research note on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Otis Worldwide has an average rating of “Hold” and an average target price of $101.44.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.