UBS Asset Management Americas Inc. Grows Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)


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UBS Asset Management Americas Inc. increased its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,515,188 shares of the company’s stock after acquiring an additional 107,916 shares during the period. UBS Asset Management Americas Inc.’s holdings in Otis Worldwide were worth $102,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Otis Worldwide by 56.3% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,056,992 shares of the company’s stock worth $71,400,000 after buying an additional 380,643 shares during the last quarter. Berman Capital Advisors LLC lifted its position in Otis Worldwide by 67.2% in the fourth quarter. Berman Capital Advisors LLC now owns 403 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the period. National Pension Service lifted its position in Otis Worldwide by 5.5% in the fourth quarter. National Pension Service now owns 641,983 shares of the company’s stock valued at $43,366,000 after purchasing an additional 33,662 shares during the period. Safeguard Investment Advisory Group LLC acquired a new stake in Otis Worldwide in the fourth quarter valued at about $26,000. Finally, Eudaimonia Partners LLC lifted its position in Otis Worldwide by 5.8% in the fourth quarter. Eudaimonia Partners LLC now owns 8,556 shares of the company’s stock valued at $578,000 after purchasing an additional 468 shares during the period. 83.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE OTIS opened at $69.63 on Thursday. Otis Worldwide Co. has a 52-week low of $41.26 and a 52-week high of $70.67. The firm has a fifty day moving average of $66.27 and a 200-day moving average of $65.80.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Sunday, January 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.07. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.39 billion. As a group, sell-side analysts expect that Otis Worldwide Co. will post 2.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Friday, February 12th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 1.15%.

A number of equities research analysts recently commented on the stock. HSBC upgraded shares of Otis Worldwide from a “reduce” rating to a “hold” rating and set a $65.00 price objective for the company in a research report on Monday, March 29th. Zacks Investment Research downgraded shares of Otis Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, February 3rd. Barclays lifted their price target on shares of Otis Worldwide from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Tuesday. Credit Suisse Group raised their price objective on shares of Otis Worldwide from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 2nd. Finally, Berenberg Bank began coverage on shares of Otis Worldwide in a research note on Monday, March 22nd. They set a “buy” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.75.

Otis Worldwide Profile

Otis Worldwide Corporation manufactures, installs, and services elevators and escalators in the United States, China, and internationally. The company operates through 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.

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Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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