CENTRAL TRUST Co Decreases Position in Otis Worldwide Co. (NYSE:OTIS)

CENTRAL TRUST Co trimmed its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 17.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,103 shares of the company’s stock after selling 1,279 shares during the period. CENTRAL TRUST Co’s holdings in Otis Worldwide were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Hancock Whitney Corp lifted its stake in shares of Otis Worldwide by 4.6% during the 1st quarter. Hancock Whitney Corp now owns 2,549 shares of the company’s stock valued at $253,000 after buying an additional 111 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Otis Worldwide by 1.2% during the first quarter. Bleakley Financial Group LLC now owns 9,726 shares of the company’s stock worth $965,000 after acquiring an additional 117 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Otis Worldwide by 5.0% in the second quarter. Brighton Jones LLC now owns 2,580 shares of the company’s stock worth $248,000 after acquiring an additional 124 shares during the period. Park Avenue Securities LLC grew its position in shares of Otis Worldwide by 0.9% in the second quarter. Park Avenue Securities LLC now owns 14,931 shares of the company’s stock valued at $1,437,000 after purchasing an additional 127 shares in the last quarter. Finally, Clearstead Trust LLC raised its stake in shares of Otis Worldwide by 15.3% during the 1st quarter. Clearstead Trust LLC now owns 1,018 shares of the company’s stock valued at $101,000 after purchasing an additional 135 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OTIS has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a report on Thursday, September 19th. Barclays upped their target price on shares of Otis Worldwide from $90.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of Otis Worldwide from $95.00 to $108.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wolfe Research cut shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley assumed coverage on Otis Worldwide in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.71.

Otis Worldwide Stock Down 1.2 %

OTIS opened at $101.26 on Friday. The business’s fifty day simple moving average is $98.48 and its 200 day simple moving average is $96.79. Otis Worldwide Co. has a 52 week low of $75.16 and a 52 week high of $106.33. The stock has a market cap of $40.94 billion, a PE ratio of 29.27 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. Otis Worldwide had a negative return on equity of 31.65% and a net margin of 10.35%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. As a group, equities analysts anticipate that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

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.