Cooper Financial Group Has $702,000 Holdings in Otis Worldwide Co. (NYSE:OTIS)

Cooper Financial Group lessened its stake in Otis Worldwide Co. (NYSE:OTIS) by 17.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,289 shares of the company’s stock after selling 1,575 shares during the period. Cooper Financial Group’s holdings in Otis Worldwide were worth $702,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its position in Otis Worldwide by 0.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,048 shares of the company’s stock worth $3,181,000 after purchasing an additional 110 shares during the last quarter. Hancock Whitney Corp raised its position in shares of Otis Worldwide by 4.6% during the 1st quarter. Hancock Whitney Corp now owns 2,549 shares of the company’s stock valued at $253,000 after acquiring an additional 111 shares during the last quarter. Tritonpoint Wealth LLC raised its position in shares of Otis Worldwide by 4.1% during the 1st quarter. Tritonpoint Wealth LLC now owns 2,869 shares of the company’s stock valued at $285,000 after acquiring an additional 113 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Otis Worldwide by 1.2% during the 1st quarter. Bleakley Financial Group LLC now owns 9,726 shares of the company’s stock valued at $965,000 after acquiring an additional 117 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of Otis Worldwide by 0.9% during the 1st quarter. Private Trust Co. NA now owns 12,931 shares of the company’s stock valued at $1,284,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Argus upped their target price on shares of Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. boosted their price target on shares of Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.83.

Otis Worldwide Trading Down 0.4 %

Shares of OTIS stock traded down $0.34 on Tuesday, hitting $91.95. The stock had a trading volume of 621,037 shares, compared to its average volume of 2,112,008. The firm has a market cap of $37.18 billion, a P/E ratio of 26.67 and a beta of 1.03. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.84. The company has a fifty day moving average price of $96.33 and a two-hundred day moving average price of $95.61.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.74 billion. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. On average, analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, August 16th. Otis Worldwide’s payout ratio is presently 45.09%.

Otis Worldwide Company Profile

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.