Whittier Trust Co. of Nevada Inc. Sells 651 Shares of Otis Worldwide Corporation $OTIS

Whittier Trust Co. of Nevada Inc. reduced its stake in Otis Worldwide Corporation (NYSE:OTIS) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,485 shares of the company’s stock after selling 651 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Otis Worldwide were worth $1,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Otis Worldwide in the 1st quarter worth approximately $31,000. Cheviot Value Management LLC bought a new stake in shares of Otis Worldwide in the 1st quarter worth approximately $31,000. Flaharty Asset Management LLC bought a new stake in shares of Otis Worldwide in the 1st quarter worth approximately $38,000. Toth Financial Advisory Corp bought a new stake in shares of Otis Worldwide in the 2nd quarter worth approximately $45,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Otis Worldwide in the 1st quarter worth approximately $48,000. 88.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on OTIS. Barclays dropped their price target on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, July 24th. Wells Fargo & Company upped their price objective on 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 report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their price objective on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $104.63.

Otis Worldwide Trading Down 1.4%

Shares of OTIS opened at $91.39 on Thursday. The firm has a market cap of $35.87 billion, a PE ratio of 24.18, a P/E/G ratio of 3.64 and a beta of 1.00. The firm has a fifty day simple moving average of $89.17 and a two-hundred day simple moving average of $93.15. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. As a group, research analysts forecast that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

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.