Otis Worldwide Co. (NYSE:OTIS) Shares Acquired by Threadgill Financial LLC

Threadgill Financial LLC raised its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,798 shares of the company’s stock after purchasing an additional 1,752 shares during the period. Otis Worldwide accounts for 1.7% of Threadgill Financial LLC’s portfolio, making the stock its 12th largest position. Threadgill Financial LLC’s holdings in Otis Worldwide were worth $3,130,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Appian Way Asset Management LP purchased a new stake in shares of Otis Worldwide during the 2nd quarter worth about $991,000. M&T Bank Corp grew its stake in Otis Worldwide by 11.2% during the third quarter. M&T Bank Corp now owns 183,984 shares of the company’s stock worth $19,123,000 after buying an additional 18,536 shares during the period. Daiwa Securities Group Inc. boosted its position in Otis Worldwide by 11.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 49,173 shares of the company’s stock worth $5,111,000 after purchasing an additional 4,918 shares during the period. JPMorgan Chase & Co. increased its holdings in Otis Worldwide by 41.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,076,031 shares of the company’s stock valued at $2,918,223,000 after purchasing an additional 8,161,946 shares in the last quarter. Finally, Blair William & Co. IL raised its position in Otis Worldwide by 64.7% in the second quarter. Blair William & Co. IL now owns 24,544 shares of the company’s stock valued at $2,363,000 after purchasing an additional 9,643 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wolfe Research downgraded Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price for the company. in a research report on Thursday, December 12th. UBS Group assumed coverage on shares of Otis Worldwide in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a research report on Thursday, September 19th. Barclays lowered their price target on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price objective on shares of Otis Worldwide from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and an average target price of $103.50.

Otis Worldwide Price Performance

NYSE OTIS opened at $90.78 on Monday. The company has a market capitalization of $36.26 billion, a price-to-earnings ratio of 22.64 and a beta of 1.06. Otis Worldwide Co. has a 12 month low of $85.42 and a 12 month high of $106.33. The company’s fifty day moving average price is $97.57 and its two-hundred day moving average price is $97.41.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. As a group, analysts anticipate that Otis Worldwide Co. will post 3.86 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a $0.39 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.72%. Otis Worldwide’s dividend payout ratio (DPR) is 38.90%.

Insider Activity at Otis Worldwide

In other news, EVP Abbe Luersman sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total transaction of $909,180.00. Following the completion of the transaction, the executive vice president now directly owns 9,992 shares of the company’s stock, valued at approximately $1,009,391.84. This represents a 47.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

About Otis Worldwide

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.