Otis Worldwide Corporation $OTIS Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC raised its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 376,421 shares of the company’s stock after purchasing an additional 33,263 shares during the period. Natixis Advisors LLC owned about 0.10% of Otis Worldwide worth $34,416,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allied Investment Advisors LLC grew its position in shares of Otis Worldwide by 6.0% in the 3rd quarter. Allied Investment Advisors LLC now owns 118,761 shares of the company’s stock worth $10,858,000 after acquiring an additional 6,770 shares in the last quarter. Pinnacle Financial Partners Inc. raised its position in shares of Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock valued at $7,085,000 after acquiring an additional 12,721 shares in the last quarter. Natixis lifted its stake in Otis Worldwide by 226.4% during the second quarter. Natixis now owns 84,026 shares of the company’s stock worth $8,320,000 after purchasing an additional 58,286 shares during the last quarter. Carnegie Investment Counsel lifted its stake in Otis Worldwide by 19.9% during the third quarter. Carnegie Investment Counsel now owns 234,368 shares of the company’s stock worth $21,428,000 after purchasing an additional 38,931 shares during the last quarter. Finally, Canoe Financial LP boosted its holdings in Otis Worldwide by 64.0% in the third quarter. Canoe Financial LP now owns 2,411,956 shares of the company’s stock worth $220,525,000 after purchasing an additional 940,862 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 1,182 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $90.06, for a total transaction of $106,450.92. Following the completion of the transaction, the chief accounting officer directly owned 3,504 shares of the company’s stock, valued at $315,570.24. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Montlivault Stephane De sold 47,944 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $92.25, for a total transaction of $4,422,834.00. Following the completion of the transaction, the insider owned 29,176 shares of the company’s stock, valued at approximately $2,691,486. This trade represents a 62.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 158,013 shares of company stock valued at $14,337,635. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on OTIS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Tuesday, December 9th. Wall Street Zen lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. JPMorgan Chase & Co. downgraded shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Friday, January 30th. Finally, New Street Research set a $98.00 price objective on shares of Otis Worldwide in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.44.

Otis Worldwide Price Performance

Shares of OTIS opened at $86.11 on Wednesday. Otis Worldwide Corporation has a 12 month low of $84.00 and a 12 month high of $105.95. The stock has a fifty day moving average price of $89.82 and a 200 day moving average price of $89.37. The company has a market cap of $33.47 billion, a P/E ratio of 24.60, a PEG ratio of 2.64 and a beta of 1.00.

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

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors 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 annualized dividend and a yield of 2.0%. Otis Worldwide’s dividend payout ratio (DPR) is currently 48.00%.

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.