Optas LLC decreased its position in Otis Worldwide Corporation (NYSE:OTIS – Free Report) by 15.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,912 shares of the company’s stock after selling 1,047 shares during the period. Optas LLC’s holdings in Otis Worldwide were worth $585,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Otis Worldwide by 6.7% in the 1st quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock worth $3,913,347,000 after acquiring an additional 2,396,134 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Otis Worldwide by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 46,595,293 shares of the company’s stock worth $4,808,634,000 after acquiring an additional 1,591,450 shares during the last quarter. Nuveen LLC acquired a new position in shares of Otis Worldwide in the 1st quarter worth approximately $91,989,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Otis Worldwide by 16.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,138,076 shares of the company’s stock worth $427,049,000 after acquiring an additional 571,489 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its holdings in shares of Otis Worldwide by 13.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,639,065 shares of the company’s stock worth $459,360,000 after acquiring an additional 543,933 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Otis Worldwide Trading Up 1.0%
Shares of OTIS opened at $91.26 on Thursday. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The firm’s fifty day simple moving average is $88.34 and its 200-day simple moving average is $93.92. The firm has a market capitalization of $35.82 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.54 and a beta of 1.00.
Otis Worldwide Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. Otis Worldwide’s dividend payout ratio (DPR) is 44.44%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on OTIS. Morgan Stanley upped their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Otis Worldwide from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 target price on the stock. Finally, Wolfe Research set a $109.00 target price on shares of Otis Worldwide and gave the stock an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $103.88.
View Our Latest Research Report on OTIS
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.
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