Otis Worldwide (NYSE:OTIS) EVP Sells $518,700.00 in Stock

Otis Worldwide Corporation (NYSE:OTIS) EVP Neil Green sold 6,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $86.45, for a total value of $518,700.00. Following the completion of the transaction, the executive vice president owned 3,773 shares in the company, valued at approximately $326,175.85. This represents a 61.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Otis Worldwide Trading Up 0.9%

Shares of OTIS stock opened at $91.20 on Friday. The firm has a fifty day simple moving average of $88.44 and a two-hundred day simple moving average of $89.02. Otis Worldwide Corporation has a 12 month low of $84.00 and a 12 month high of $106.83. The firm has a market capitalization 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.

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

Otis Worldwide Announces Dividend

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

Analyst Ratings Changes

OTIS has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a report on Monday, December 29th. Barclays upped their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. BNP Paribas Exane raised shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Tuesday, December 9th. New Street Research set a $98.00 target price on Otis Worldwide in a research note on Friday, January 30th. Finally, Wall Street Zen downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus price target of $101.44.

Institutional Investors Weigh In On Otis Worldwide

A number of hedge funds have recently modified their holdings of OTIS. Root Financial Partners LLC bought a new stake in shares of Otis Worldwide in the third quarter valued at $26,000. Stance Capital LLC bought a new position in shares of Otis Worldwide during the 3rd quarter worth $27,000. Camelot Portfolios LLC purchased a new stake in Otis Worldwide in the 4th quarter worth about $26,000. Chilton Capital Management LLC bought a new stake in Otis Worldwide in the 2nd quarter valued at about $31,000. Finally, Nemes Rush Group LLC raised its stake in Otis Worldwide by 75.4% in the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Institutional investors own 88.03% of the company’s stock.

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.