Ausdal Financial Partners Inc. Makes New $234,000 Investment in Otis Worldwide Co. (NYSE:OTIS)

Ausdal Financial Partners Inc. bought a new stake in Otis Worldwide Co. (NYSE:OTIS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,526 shares of the company’s stock, valued at approximately $234,000.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in Otis Worldwide by 485.5% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 267 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Otis Worldwide in the fourth quarter valued at about $33,000. Golden State Wealth Management LLC acquired a new position in shares of Otis Worldwide in the fourth quarter valued at about $34,000. Flagship Wealth Advisors LLC bought a new position in Otis Worldwide during the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management acquired a new stake in Otis Worldwide in the 4th quarter worth about $37,000. Institutional investors own 88.03% of the company’s stock.

Insider Activity

In other Otis Worldwide news, CEO Judith Fran Marks sold 38,012 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $94.41, for a total transaction of $3,588,712.92. Following the completion of the sale, the chief executive officer now owns 245,883 shares in the company, valued at approximately $23,213,814.03. The trade was a 13.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peiming Zheng sold 32,694 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $95.43, for a total transaction of $3,119,988.42. Following the completion of the transaction, the executive vice president now directly owns 169 shares in the company, valued at $16,127.67. This trade represents a 99.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,281 shares of company stock worth $10,747,553 over the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Otis Worldwide Stock Down 0.9 %

Shares of NYSE OTIS opened at $102.08 on Friday. The company has a market capitalization of $40.48 billion, a PE ratio of 25.14 and a beta of 1.05. The firm has a fifty day simple moving average of $98.69 and a 200 day simple moving average of $98.63. Otis Worldwide Co. has a twelve month low of $90.12 and a twelve month high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, January 29th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. As a group, equities analysts expect that Otis Worldwide Co. will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide announced that its Board of Directors has approved a stock repurchase program on Thursday, January 16th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.53%. Otis Worldwide’s dividend payout ratio (DPR) is presently 38.42%.

Analysts Set New Price Targets

Several research analysts have recently commented on OTIS shares. Barclays raised their target price on shares of Otis Worldwide from $91.00 to $92.00 and gave the stock an “underweight” rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Wolfe Research lowered Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price on the stock. in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their price target on Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and a consensus target price of $103.00.

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.