Livforsakringsbolaget Skandia Omsesidigt Buys 721 Shares of Otis Worldwide Co. (NYSE:OTIS)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Otis Worldwide Co. (NYSE:OTIS) by 158.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,177 shares of the company’s stock after buying an additional 721 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Otis Worldwide were worth $105,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OTIS. Daiwa Securities Group Inc. grew its holdings in shares of Otis Worldwide by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 37,163 shares of the company’s stock valued at $3,325,000 after purchasing an additional 1,947 shares during the last quarter. Goodman Advisory Group LLC grew its holdings in shares of Otis Worldwide by 11.0% during the 4th quarter. Goodman Advisory Group LLC now owns 26,159 shares of the company’s stock valued at $2,340,000 after purchasing an additional 2,595 shares during the last quarter. Scissortail Wealth Management LLC bought a new position in shares of Otis Worldwide during the 4th quarter valued at $288,000. Tyche Wealth Partners LLC purchased a new stake in Otis Worldwide during the 4th quarter valued at $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Otis Worldwide by 1.1% during the 4th 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. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $95.49 on Friday. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.35. The stock has a market cap of $38.60 billion, a P/E ratio of 28.17 and a beta of 1.01. The firm has a 50-day moving average of $96.03 and a 200 day moving average of $88.73.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. During the same period last year, the business earned $0.75 EPS. Research analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

Analysts Set New Price Targets

OTIS has been the subject of several analyst reports. Wells Fargo & Company dropped 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 research report on Thursday, February 1st. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. Melius began coverage on shares of Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating for the company. Barclays raised their target price on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, UBS Group raised their target price on shares of Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.29.

Insider Buying and Selling at Otis Worldwide

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

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.