Otis Worldwide Corporation $OTIS Shares Sold by Members Trust Co

Members Trust Co cut its stake in Otis Worldwide Corporation (NYSE:OTIS) by 18.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,179 shares of the company’s stock after selling 477 shares during the period. Members Trust Co’s holdings in Otis Worldwide were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in OTIS. JPMorgan Chase & Co. increased its position in Otis Worldwide by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock worth $3,913,347,000 after buying an additional 2,396,134 shares during the period. Vanguard Group Inc. grew its stake in shares of Otis Worldwide by 3.5% in the first quarter. Vanguard Group Inc. now owns 46,595,293 shares of the company’s stock worth $4,808,634,000 after purchasing an additional 1,591,450 shares in the last quarter. Nuveen LLC bought a new position in shares of Otis Worldwide in the first quarter worth $91,989,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Otis Worldwide by 16.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,138,076 shares of the company’s stock worth $427,049,000 after purchasing an additional 571,489 shares in the last quarter. Finally, PineStone Asset Management Inc. grew its stake in shares of Otis Worldwide by 13.3% in the second quarter. PineStone Asset Management Inc. now owns 4,639,065 shares of the company’s stock worth $459,360,000 after purchasing an additional 543,933 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Up 1.3%

Shares of OTIS stock opened at $92.69 on Wednesday. The stock has a 50-day simple moving average of $89.13 and a 200 day simple moving average of $93.16. Otis Worldwide Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $106.83. The stock has a market capitalization of $36.38 billion, a P/E ratio of 24.52, a P/E/G ratio of 3.59 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the company posted $1.06 EPS. Otis Worldwide’s revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.8%. Otis Worldwide’s dividend payout ratio (DPR) is 44.44%.

Analyst Ratings Changes

Several research firms have recently issued reports on OTIS. JPMorgan Chase & Co. increased their price target on Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Wolfe Research set a $109.00 price target on Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price target on Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Barclays decreased their price target on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, July 24th. Finally, Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.63.

About Otis Worldwide

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.