Cobblestone Capital Advisors LLC NY Grows Stock Holdings in Otis Worldwide Corporation $OTIS

Cobblestone Capital Advisors LLC NY grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 7.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,673 shares of the company’s stock after acquiring an additional 189 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Otis Worldwide were worth $265,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OTIS. Bessemer Group Inc. lifted its stake in Otis Worldwide by 12.6% in the 2nd quarter. Bessemer Group Inc. now owns 16,282 shares of the company’s stock worth $1,613,000 after purchasing an additional 1,817 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in Otis Worldwide in the 2nd quarter worth $31,000. Nisa Investment Advisors LLC lifted its position in shares of Otis Worldwide by 3.1% in the second quarter. Nisa Investment Advisors LLC now owns 120,306 shares of the company’s stock worth $11,913,000 after buying an additional 3,619 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in Otis Worldwide by 8.6% during the second quarter. Resonant Capital Advisors LLC now owns 4,019 shares of the company’s stock valued at $398,000 after purchasing an additional 318 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its position in shares of Otis Worldwide by 4.1% during the 2nd quarter. Ingalls & Snyder LLC now owns 5,804 shares of the company’s stock valued at $575,000 after buying an additional 231 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OTIS has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft began coverage on Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 price target on the stock. Royal Bank Of Canada decreased their price target on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Finally, Barclays decreased their price target on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $104.63.

Otis Worldwide Price Performance

OTIS stock opened at $92.00 on Tuesday. The company has a market capitalization of $36.11 billion, a PE ratio of 24.34, a P/E/G ratio of 3.61 and a beta of 1.00. Otis Worldwide Corporation has a 12 month low of $84.25 and a 12 month high of $106.83. The firm’s 50-day moving average is $89.46 and its 200 day moving average is $93.16.

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.