Otis Worldwide Corporation (NYSE:OTIS) Stake Reduced by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. reduced its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,829 shares of the company’s stock after selling 182 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Otis Worldwide were worth $2,356,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OTIS. Transce3nd LLC bought a new position in Otis Worldwide during the 4th quarter worth $25,000. NBC Securities Inc. bought a new position in Otis Worldwide during the 1st quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Otis Worldwide in the fourth quarter worth $28,000. Flagship Wealth Advisors LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $34,000. Finally, Orion Capital Management LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $35,000. 88.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OTIS has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased 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, May 16th. Royal Bank Of Canada decreased 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. 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 Friday, April 25th. Finally, Wells Fargo & Company decreased 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $100.71.

Otis Worldwide Stock Up 2.1%

Shares of Otis Worldwide stock opened at $96.04 on Tuesday. The firm has a market cap of $37.91 billion, a price-to-earnings ratio of 25.21 and a beta of 0.98. The business has a fifty day simple moving average of $96.28 and a 200-day simple moving average of $96.73. Otis Worldwide Corporation has a fifty-two week low of $89.70 and a fifty-two week high of $106.83.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. Otis Worldwide had a negative return on equity of 31.72% and a net margin of 10.83%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a $0.42 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, May 16th. This represents a $1.68 annualized dividend and a dividend yield of 1.75%. Otis Worldwide’s dividend payout ratio is 44.09%.

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.