Otis Worldwide Corporation $OTIS Stock Holdings Increased by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 9.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 376,421 shares of the company’s stock after acquiring an additional 33,263 shares during the quarter. Natixis Advisors LLC’s holdings in Otis Worldwide were worth $34,416,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OTIS. Root Financial Partners LLC acquired a new position in shares of Otis Worldwide during the third quarter valued at $26,000. Nemes Rush Group LLC lifted its holdings in Otis Worldwide by 75.4% in the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock worth $31,000 after purchasing an additional 135 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Otis Worldwide in the third quarter worth about $31,000. Oakworth Capital Inc. grew its position in Otis Worldwide by 49.1% in the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its position in Otis Worldwide by 57.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Down 1.7%

Shares of Otis Worldwide stock opened at $86.11 on Wednesday. The company’s 50-day moving average price is $89.82 and its two-hundred day moving average price is $89.37. Otis Worldwide Corporation has a 52 week low of $84.00 and a 52 week high of $105.95. The stock has a market cap of $33.47 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.64 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.03 earnings per share for the quarter, meeting the consensus estimate of $1.03. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.88 billion. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 EPS. On average, equities analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.68 annualized dividend and a yield of 2.0%. Otis Worldwide’s dividend payout ratio is currently 48.00%.

Analysts Set New Price Targets

OTIS has been the topic of a number of recent analyst reports. BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Tuesday, December 9th. Wells Fargo & Company decreased their price objective on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. New Street Research set a $98.00 price objective on shares of Otis Worldwide in a research note on Friday, January 30th. Wall Street Zen cut Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.44.

Insider Buying and Selling at Otis Worldwide

In related news, insider Montlivault Stephane De sold 47,944 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total transaction of $4,422,834.00. Following the completion of the sale, the insider directly owned 29,176 shares in the company, valued at approximately $2,691,486. This trade represents a 62.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Judith Fran Marks sold 56,107 shares of Otis Worldwide stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the completion of the transaction, the chief executive officer owned 231,072 shares in the company, valued at approximately $21,002,134.08. This trade represents a 19.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,013 shares of company stock valued at $14,337,635 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Otis Worldwide Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.