Enterprise Financial Services Corp Sells 420 Shares of Otis Worldwide Co. (NYSE:OTIS)

Enterprise Financial Services Corp lowered its stake in shares of Otis Worldwide Co. (NYSE:OTIS – Get Rating) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,748 shares of the company’s stock after selling 420 shares during the period. Enterprise Financial Services Corp’s holdings in Otis Worldwide were worth $413,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in shares of Otis Worldwide by 27.3% during the 3rd quarter. American Century Companies Inc. now owns 5,819 shares of the company’s stock worth $479,000 after acquiring an additional 1,247 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Otis Worldwide by 6.9% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,611 shares of the company’s stock valued at $955,000 after purchasing an additional 751 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in Otis Worldwide by 3.6% during the 3rd quarter. First Republic Investment Management Inc. now owns 105,354 shares of the company’s stock valued at $8,669,000 after purchasing an additional 3,641 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Otis Worldwide in the 3rd quarter worth $221,000. Finally, Bank of Nova Scotia lifted its position in Otis Worldwide by 177.3% during the third quarter. Bank of Nova Scotia now owns 326,095 shares of the company’s stock valued at $26,832,000 after purchasing an additional 208,478 shares in the last quarter. Institutional investors and hedge funds own 83.32% of the company’s stock.

Shares of OTIS stock traded down $1.78 on Wednesday, hitting $73.71. The stock had a trading volume of 50,187 shares, compared to its average volume of 2,762,776. Otis Worldwide Co. has a 52-week low of $71.07 and a 52-week high of $92.84. The firm has a market capitalization of $31.16 billion, a price-to-earnings ratio of 25.94 and a beta of 0.88. The stock’s 50 day moving average is $75.31 and its 200-day moving average is $79.81.

Otis Worldwide (NYSE:OTIS – Get Rating) last released its earnings results on Monday, April 25th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Otis Worldwide had a net margin of 8.73% and a negative return on equity of 35.81%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the company earned $0.72 EPS. Otis Worldwide’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Otis Worldwide Co. will post 3.25 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 20th will be paid a $0.29 dividend. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, May 19th. This represents a $1.16 annualized dividend and a dividend yield of 1.57%. Otis Worldwide’s dividend payout ratio (DPR) is presently 39.86%.

A number of research firms have commented on OTIS. Credit Suisse Group decreased their price target on Otis Worldwide from $88.00 to $81.00 and set a “neutral” rating on the stock in a report on Tuesday, April 26th. Cowen dropped their target price on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, April 26th. Barclays upgraded Otis Worldwide from an “equal weight” rating to an “overweight” rating and set a $82.00 price target for the company in a report on Tuesday. Finally, Cowen reduced their price target on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.56.

Otis Worldwide Company Profile (Get Rating)

Otis Worldwide Corporation manufactures, installs, and services 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.

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