2,910 Shares in Otis Worldwide Co. (NYSE:OTIS) Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new position in shares of Otis Worldwide Co. (NYSE:OTIS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,910 shares of the company’s stock, valued at approximately $269,000.

Other large investors have also added to or reduced their stakes in the company. Transce3nd LLC bought a new position in shares of Otis Worldwide in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Otis Worldwide in the fourth quarter valued at $28,000. Centricity Wealth Management LLC purchased a new position in shares of Otis Worldwide in the fourth quarter valued at $33,000. Golden State Wealth Management LLC purchased a new position in Otis Worldwide during the fourth quarter worth about $34,000. Finally, Flagship Wealth Advisors LLC purchased a new position in Otis Worldwide during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Insider Activity at Otis Worldwide

In other news, insider Montlivault Stephane De sold 6,660 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the transaction, the insider now owns 63,931 shares of the company’s stock, valued at approximately $6,731,934.30. This represents a 9.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on OTIS shares. Barclays reduced their target price on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on Otis Worldwide from $88.00 to $101.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company dropped their price target on Otis Worldwide from $105.00 to $95.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank of Canada dropped their price target on Otis Worldwide from $109.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.71.

Otis Worldwide Trading Up 1.0%

NYSE OTIS opened at $98.85 on Monday. Otis Worldwide Co. has a 1-year low of $89.70 and a 1-year high of $106.83. The stock has a 50-day moving average of $98.02 and a 200-day moving average of $97.60. The firm has a market cap of $39.01 billion, a PE ratio of 24.35 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Otis Worldwide’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Otis Worldwide Co. will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, May 16th. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.39. Otis Worldwide’s payout ratio is currently 44.09%.

Otis Worldwide 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.