Otis Worldwide (NYSE:OTIS) Insider Montlivault Stephane De Sells 47,944 Shares of Stock

Otis Worldwide Corporation (NYSE:OTIS) insider Montlivault Stephane De sold 47,944 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total value of $4,422,834.00. Following the transaction, the insider owned 29,176 shares in the company, valued at approximately $2,691,486. This trade represents a 62.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $89.65 on Friday. The firm has a 50-day moving average of $88.75 and a 200-day moving average of $88.91. Otis Worldwide Corporation has a one year low of $84.00 and a one year high of $106.83. The company has a market cap of $34.85 billion, a P/E ratio of 25.61, a P/E/G ratio of 2.76 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, January 28th. The company reported $1.03 earnings per share for the quarter, hitting the consensus estimate of $1.03. The business had revenue of $3.80 billion for 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 firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, February 13th. Otis Worldwide’s dividend payout ratio (DPR) is presently 48.00%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OTIS. JPMorgan Chase & Co. cut Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price objective on the stock. in a research report on Friday, January 30th. Wall Street Zen downgraded shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Wells Fargo & Company decreased their price objective on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. New Street Research set a $98.00 price objective on shares of Otis Worldwide in a research report on Friday, January 30th. Finally, BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target for the company in a research note on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average target price of $101.44.

Institutional Trading of Otis Worldwide

Hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp grew its stake in Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after buying an additional 304 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Otis Worldwide by 10.5% in the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after acquiring an additional 857 shares during the period. Acadian Asset Management LLC grew its position in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after purchasing an additional 1,574 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Otis Worldwide by 11.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 7,366 shares of the company’s stock valued at $729,000 after purchasing an additional 785 shares during the period. Finally, CWM LLC lifted its holdings in Otis Worldwide by 47.9% during the 2nd quarter. CWM LLC now owns 24,369 shares of the company’s stock worth $2,413,000 after purchasing an additional 7,893 shares in the last quarter. 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.