Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lowered its stake in Otis Worldwide Co. (NYSE:OTIS) by 23.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,750 shares of the company’s stock after selling 865 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Otis Worldwide were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of Otis Worldwide during the 3rd quarter valued at $30,000. Janiczek Wealth Management LLC raised its stake in shares of Otis Worldwide by 141.1% during the 3rd quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Otis Worldwide during the 3rd quarter valued at about $33,000. Resurgent Financial Advisors LLC bought a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $33,000. Finally, CNB Bank increased its holdings in Otis Worldwide by 81.0% in the third quarter. CNB Bank now owns 429 shares of the company’s stock worth $34,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Down 0.7 %

OTIS traded down $0.71 during trading on Thursday, hitting $99.15. The company’s stock had a trading volume of 522,418 shares, compared to its average volume of 2,076,084. The stock’s fifty day moving average price is $93.45 and its 200-day moving average price is $86.96. The firm has a market capitalization of $40.20 billion, a P/E ratio of 29.46 and a beta of 1.01. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the firm earned $0.75 EPS. Equities research analysts expect that Otis Worldwide Co. will post 3.87 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, February 15th. Otis Worldwide’s payout ratio is currently 40.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Vertical Research lowered Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Otis Worldwide in a research report on Monday, February 5th. Wells Fargo & Company lowered their price target on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. UBS Group raised their price objective on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, Argus upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $92.29.

Insiders Place Their Bets

In other news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the sale, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the sale, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

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.