Parkside Financial Bank & Trust Purchases 151 Shares of Otis Worldwide Co. (NYSE:OTIS)

Parkside Financial Bank & Trust grew its position in Otis Worldwide Co. (NYSE:OTIS) by 19.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 943 shares of the company’s stock after acquiring an additional 151 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Otis Worldwide were worth $84,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Otis Worldwide by 54.5% during the 3rd 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 during the last quarter. International Assets Investment Management LLC increased its position 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 valued at $13,570,000 after purchasing an additional 150,563 shares during the last quarter. SG Americas Securities LLC increased its position 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 valued at $10,378,000 after purchasing an additional 74,030 shares during the last quarter. Smith Salley & Associates bought a new position in shares of Otis Worldwide during the 4th quarter valued at approximately $1,113,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Otis Worldwide by 29.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,428 shares of the company’s stock valued at $12,117,000 after acquiring an additional 30,530 shares during the period. Institutional investors own 88.03% of the company’s stock.

Insider Buying and Selling

In related news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction dated 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 transaction, 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 currently owned by company insiders.

Wall Street Analyst Weigh In

OTIS has been the subject of a number of recent analyst reports. Barclays boosted their price objective on Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Thursday, February 22nd. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Otis Worldwide in a report on Monday, February 5th. JPMorgan Chase & Co. boosted their price objective on Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $96.86.

Otis Worldwide Trading Down 0.4 %

Shares of OTIS stock opened at $93.02 on Friday. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35. The stock has a market capitalization of $37.60 billion, a price-to-earnings ratio of 26.88 and a beta of 1.01. The stock has a fifty day simple moving average of $96.42 and a two-hundred day simple moving average of $89.27.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. Research analysts predict that Otis Worldwide Co. will post 3.87 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $0.39 per share. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, May 16th. Otis Worldwide’s dividend payout ratio is 39.31%.

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.