Livforsakringsbolaget Skandia Omsesidigt Has $105,000 Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 158.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,177 shares of the company’s stock after buying an additional 721 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Otis Worldwide were worth $105,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OTIS. Meiji Yasuda Asset Management Co Ltd. grew its stake in Otis Worldwide by 54.5% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock valued at $544,000 after purchasing an additional 2,390 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Otis Worldwide by 13,638.0% during the 4th quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after acquiring an additional 150,563 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Otis Worldwide by 176.4% during the 4th quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock worth $10,378,000 after acquiring an additional 74,030 shares in the last quarter. Smith Salley & Associates bought a new stake in shares of Otis Worldwide during the 4th quarter worth about $1,113,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Otis Worldwide by 29.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,428 shares of the company’s stock worth $12,117,000 after acquiring an additional 30,530 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OTIS. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research note on Monday, February 5th. Barclays boosted their price objective on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. UBS Group upped their price target on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Thursday, February 22nd. Finally, Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.29.

Insider Transactions at Otis Worldwide

In other news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the transaction, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the sale, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at approximately $17,660,653.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Montlivault Stephane De sold 18,393 shares of the business’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 in the company, valued at $6,128,661.40. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Otis Worldwide Price Performance

NYSE OTIS opened at $95.49 on Friday. The firm has a market cap of $38.60 billion, a PE ratio of 28.17 and a beta of 1.01. Otis Worldwide Co. has a one year low of $73.32 and a one year high of $100.35. The stock’s 50 day simple moving average is $96.03 and its 200 day simple moving average is $88.73.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company earned $0.75 EPS. As a group, equities analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.42%. Otis Worldwide’s dividend payout ratio is currently 40.12%.

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.