Otis Worldwide Co. (NYSE:OTIS) Stock Position Lifted by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its holdings in Otis Worldwide Co. (NYSE:OTIS) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,485 shares of the company’s stock after purchasing an additional 4,674 shares during the quarter. Janus Henderson Group PLC’s holdings in Otis Worldwide were worth $6,527,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Transce3nd LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Otis Worldwide in the fourth quarter worth $28,000. Centricity Wealth Management LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $33,000. Flagship Wealth Advisors LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $34,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Otis Worldwide in the fourth quarter worth $34,000. Institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

OTIS has been the subject of several recent analyst reports. Barclays decreased their price target on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company decreased their target price on Otis Worldwide from $105.00 to $95.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada decreased their target price on Otis Worldwide from $109.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. raised their target price on Otis Worldwide from $88.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Otis Worldwide Stock Up 1.0%

Shares of OTIS stock opened at $98.85 on Friday. Otis Worldwide Co. has a fifty-two week low of $89.70 and a fifty-two week high of $106.83. The stock has a market capitalization of $39.01 billion, a P/E ratio of 24.35 and a beta of 1.01. The stock has a 50-day simple moving average of $98.02 and a 200 day simple moving average of $97.60.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter last year, the company posted $0.88 EPS. Otis Worldwide’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Otis Worldwide Co. will post 4.04 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $0.42 dividend. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.70%. Otis Worldwide’s dividend payout ratio (DPR) is 44.09%.

Insider Activity at Otis Worldwide

In related news, insider Montlivault Stephane De sold 6,660 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the sale, the insider now directly owns 63,931 shares of the company’s stock, valued at approximately $6,731,934.30. This represents a 9.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

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.