Natixis Advisors L.P. Grows Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Natixis Advisors L.P. raised its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 154,629 shares of the company’s stock after purchasing an additional 12,083 shares during the period. Natixis Advisors L.P.’s holdings in Otis Worldwide were worth $13,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JB Capital LLC boosted its position in Otis Worldwide by 0.5% during the fourth quarter. JB Capital LLC now owns 26,572 shares of the company’s stock worth $2,377,000 after acquiring an additional 129 shares during the last quarter. Baystate Wealth Management LLC grew its position in shares of Otis Worldwide by 16.7% in the fourth quarter. Baystate Wealth Management LLC now owns 964 shares of the company’s stock valued at $86,000 after purchasing an additional 138 shares during the period. Sigma Planning Corp lifted its position in Otis Worldwide by 3.5% during the third quarter. Sigma Planning Corp now owns 4,189 shares of the company’s stock worth $336,000 after buying an additional 141 shares during the period. ICW Investment Advisors LLC boosted its stake in Otis Worldwide by 2.4% in the 4th quarter. ICW Investment Advisors LLC now owns 6,129 shares of the company’s stock worth $548,000 after buying an additional 144 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Otis Worldwide by 19.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 943 shares of the company’s stock valued at $84,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.9 %

Shares of NYSE:OTIS opened at $93.89 on Wednesday. The company has a 50 day moving average of $96.43 and a two-hundred day moving average of $90.00. Otis Worldwide Co. has a 52-week low of $73.32 and a 52-week high of $100.35. The company has a market capitalization of $37.96 billion, a price-to-earnings ratio of 27.14 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.44 billion. Otis Worldwide had a net margin of 9.99% and a negative return on equity of 31.02%. On average, equities analysts anticipate that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio (DPR) is 39.31%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OTIS shares. UBS Group upped their price target on shares of Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Melius began coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They issued a “hold” rating on the stock. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Thursday, February 22nd. Barclays lifted their price objective on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company cut their price target on shares of Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Otis Worldwide currently has an average rating of “Hold” and a consensus target price of $96.86.

Insiders Place Their Bets

In other news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the sale, the insider now owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

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.