Otis Worldwide (NYSE:OTIS) CEO Judith Fran Marks Sells 46,780 Shares of Stock

Otis Worldwide Corporation (NYSE:OTIS) CEO Judith Fran Marks sold 46,780 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $89.57, for a total value of $4,190,084.60. Following the sale, the chief executive officer owned 231,072 shares in the company, valued at $20,697,119.04. The trade was a 16.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Judith Fran Marks also recently made the following trade(s):

• On Thursday, February 5th, Judith Fran Marks sold 56,107 shares of Otis Worldwide stock. The stock was sold at an average price of $90.89, for a total transaction of $5,099,565.23.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $91.20 on Friday. Otis Worldwide Corporation has a fifty-two week low of $84.00 and a fifty-two week high of $106.83. The firm has a market capitalization of $35.54 billion, a PE ratio of 26.06, a P/E/G ratio of 2.72 and a beta of 1.01. The stock’s 50-day simple moving average is $88.44 and its 200-day simple moving average is $89.02.

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

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, February 13th. Otis Worldwide’s dividend payout ratio is currently 48.00%.

Institutional Investors Weigh In On Otis Worldwide

A number of institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in Otis Worldwide by 3.4% during the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after purchasing an additional 304 shares during the period. Empowered Funds LLC increased its stake in Otis Worldwide by 10.5% during the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after buying an additional 857 shares during the period. Acadian Asset Management LLC lifted its holdings in Otis Worldwide by 63.7% during the 1st quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after buying an additional 1,574 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Otis Worldwide in the 2nd quarter valued at approximately $75,000. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Otis Worldwide by 0.5% in the second quarter. KLP Kapitalforvaltning AS now owns 225,342 shares of the company’s stock worth $22,313,000 after acquiring an additional 1,100 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OTIS shares. Wells Fargo & Company dropped their target price on Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. New Street Research set a $98.00 target price on Otis Worldwide in a report on Friday, January 30th. Wall Street Zen downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. BNP Paribas Exane raised shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Tuesday, December 9th. Finally, Barclays upped their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and an average target price 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.