Goodman Advisory Group LLC Has $2.34 Million Position in Otis Worldwide Co. (NYSE:OTIS)

Goodman Advisory Group LLC boosted its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,159 shares of the company’s stock after purchasing an additional 2,595 shares during the quarter. Otis Worldwide accounts for about 0.8% of Goodman Advisory Group LLC’s investment portfolio, making the stock its 28th biggest holding. Goodman Advisory Group LLC’s holdings in Otis Worldwide were worth $2,340,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Scissortail Wealth Management LLC acquired a new position in Otis Worldwide during the fourth quarter valued at approximately $288,000. Tyche Wealth Partners LLC acquired a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Otis Worldwide by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,713 shares of the company’s stock valued at $10,084,000 after buying an additional 1,280 shares during the period. Sentry Investment Management LLC boosted its holdings in shares of Otis Worldwide by 208.3% in the fourth quarter. Sentry Investment Management LLC now owns 7,365 shares of the company’s stock valued at $659,000 after buying an additional 4,976 shares during the period. Finally, Waldron Private Wealth LLC boosted its holdings in shares of Otis Worldwide by 9.1% in the fourth quarter. Waldron Private Wealth LLC now owns 4,220 shares of the company’s stock valued at $377,000 after buying an additional 352 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Insiders Place Their Bets

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Judith Fran Marks sold 37,312 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the completion of the sale, the chief executive officer now owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Performance

Shares of OTIS stock traded down $0.07 on Wednesday, hitting $95.98. The company’s stock had a trading volume of 1,192,671 shares, compared to its average volume of 1,464,583. The stock’s 50 day moving average is $95.87 and its 200-day moving average is $88.64. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $100.35. The company has a market capitalization of $38.79 billion, a PE ratio of 28.31 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the company posted $0.75 earnings per share. On average, research analysts forecast that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.42%. Otis Worldwide’s payout ratio is 40.12%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OTIS shares. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Otis Worldwide in a report on Monday, February 5th. Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Melius began coverage on shares of Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock. Finally, Argus raised shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and an average price target of $94.29.

Otis Worldwide 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.