Sapient Capital LLC Purchases Shares of 2,663 Otis Worldwide Co. (NYSE:OTIS)

Sapient Capital LLC acquired a new position in Otis Worldwide Co. (NYSE:OTIS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,663 shares of the company’s stock, valued at approximately $238,000.

Other large investors have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Otis Worldwide by 54.5% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock valued at $544,000 after acquiring an additional 2,390 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Otis Worldwide by 142.1% during the fourth quarter. Stevens Capital Management LP now owns 7,555 shares of the company’s stock valued at $676,000 after buying an additional 4,435 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Otis Worldwide by 13,638.0% in the fourth quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after buying an additional 150,563 shares in the last quarter. SG Americas Securities LLC grew its stake in Otis Worldwide by 176.4% during the fourth quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock valued at $10,378,000 after acquiring an additional 74,030 shares in the last quarter. Finally, Smith Salley & Associates purchased a new stake in Otis Worldwide in the 4th quarter worth $1,113,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Otis Worldwide Trading Up 0.9 %

NYSE OTIS opened at $93.89 on Wednesday. The stock has a market cap of $37.96 billion, a P/E ratio of 27.14 and a beta of 1.03. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $100.35. The company has a fifty day simple moving average of $96.43 and a two-hundred day simple moving average of $90.00.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.44 billion. Otis Worldwide had a net margin of 9.99% and a negative return on equity of 31.02%. As a group, sell-side analysts forecast that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.39 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, May 16th. Otis Worldwide’s payout ratio is 39.31%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OTIS. UBS Group increased their target price on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lifted their price objective on shares of Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Argus raised shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Thursday, February 22nd. Wells Fargo & Company dropped their price target on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Finally, Barclays increased their price objective 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.86.

Otis Worldwide Company 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.