WINTON GROUP Ltd Invests $2.53 Million in Otis Worldwide Corporation $OTIS

WINTON GROUP Ltd acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,700 shares of the company’s stock, valued at approximately $2,533,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oakworth Capital Inc. lifted its holdings in Otis Worldwide by 49.1% during the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock worth $31,000 after buying an additional 113 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of Otis Worldwide by 1.8% during the third quarter. Cookson Peirce & Co. Inc. now owns 6,615 shares of the company’s stock worth $605,000 after acquiring an additional 115 shares during the period. OLD National Bancorp IN raised its stake in shares of Otis Worldwide by 5.5% in the third quarter. OLD National Bancorp IN now owns 2,245 shares of the company’s stock valued at $205,000 after acquiring an additional 118 shares in the last quarter. PKS Advisory Services LLC boosted its holdings in Otis Worldwide by 4.9% in the second quarter. PKS Advisory Services LLC now owns 2,575 shares of the company’s stock valued at $255,000 after purchasing an additional 121 shares during the period. Finally, Physician Wealth Advisors Inc. grew its stake in Otis Worldwide by 57.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, insider Montlivault Stephane De sold 47,944 shares of Otis Worldwide 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 directly owned 29,176 shares in the company, valued at approximately $2,691,486. The trade was a 62.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Judith Fran Marks sold 56,107 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the completion of the sale, the chief executive officer directly owned 231,072 shares of the company’s stock, valued at $21,002,134.08. The trade was a 19.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 158,013 shares of company stock valued at $14,337,635. Company insiders own 0.23% of the company’s stock.

Otis Worldwide Trading Down 1.7%

Shares of NYSE OTIS opened at $86.11 on Wednesday. The stock has a market cap of $33.47 billion, a P/E ratio of 24.60, a P/E/G ratio of 2.64 and a beta of 1.00. Otis Worldwide Corporation has a twelve month low of $84.00 and a twelve month high of $105.95. The stock has a 50 day moving average of $89.82 and a two-hundred day moving average of $89.37.

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

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 13th. Otis Worldwide’s dividend payout ratio (DPR) is presently 48.00%.

Analyst Ratings Changes

A number of analysts recently weighed in on OTIS shares. Wall Street Zen lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note 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 target for the company. in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a report on Monday, December 29th. Wells Fargo & Company dropped their price objective on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. Finally, BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide has an average rating of “Hold” and an average price target 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.