Machina Capital S.A.S. Grows Stock Holdings in Otis Worldwide Corporation $OTIS

Machina Capital S.A.S. raised its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 108.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,288 shares of the company’s stock after purchasing an additional 31,836 shares during the quarter. Otis Worldwide accounts for approximately 1.0% of Machina Capital S.A.S.’s investment portfolio, making the stock its 14th biggest holding. Machina Capital S.A.S.’s holdings in Otis Worldwide were worth $5,604,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of OTIS. Root Financial Partners LLC acquired a new stake in Otis Worldwide during the third quarter worth about $26,000. Chilton Capital Management LLC purchased a new stake in Otis Worldwide in the 2nd quarter worth approximately $31,000. Nemes Rush Group LLC boosted its position in Otis Worldwide by 75.4% in the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock worth $31,000 after purchasing an additional 135 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Otis Worldwide during the 3rd quarter worth approximately $31,000. Finally, Oakworth Capital Inc. increased its holdings in shares of Otis Worldwide by 49.1% during the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Insiders Place Their Bets

In other Otis Worldwide news, EVP Neil Green sold 6,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $86.45, for a total value of $518,700.00. Following the completion of the transaction, the executive vice president owned 3,773 shares in the company, valued at $326,175.85. The trade was a 61.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $87.10 on Wednesday. The firm has a market capitalization of $33.95 billion, a P/E ratio of 24.89, a PEG ratio of 2.58 and a beta of 1.01. Otis Worldwide Corporation has a fifty-two week low of $84.00 and a fifty-two week high of $106.83. The stock’s fifty day moving average is $88.35 and its two-hundred day moving average is $88.99.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.03. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Otis Worldwide’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Otis Worldwide’s dividend payout ratio is 48.00%.

Analyst Upgrades and Downgrades

OTIS has been the subject of a number of recent analyst reports. BNP Paribas Exane raised shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Tuesday, December 9th. JPMorgan Chase & Co. lowered Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price target for the company. in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a report on Monday, December 29th. Wells Fargo & Company dropped their price objective on Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, December 15th. Finally, Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.44.

About Otis Worldwide

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.