BDF Gestion bought a new position in shares of Otis Worldwide Co. (NYSE:OTIS – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,268 shares of the company’s stock, valued at approximately $2,914,000.
Other hedge funds have also recently modified their holdings of the company. Cetera Trust Company N.A bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $28,000. Jamison Private Wealth Management Inc. raised its holdings in Otis Worldwide by 5,720.0% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock valued at $28,000 after acquiring an additional 286 shares during the period. LifeSteps Financial Inc. bought a new stake in Otis Worldwide during the 1st quarter valued at $31,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Otis Worldwide during the 4th quarter valued at $35,000. Institutional investors own 88.03% of the company’s stock.
Otis Worldwide Stock Performance
Shares of NYSE OTIS traded up $0.77 during trading hours on Friday, hitting $93.40. The company’s stock had a trading volume of 1,535,690 shares, compared to its average volume of 2,125,760. The stock has a market cap of $37.76 billion, a price-to-earnings ratio of 26.88 and a beta of 1.03. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $100.84. The business has a 50-day simple moving average of $96.58 and a 200-day simple moving average of $95.45.
Otis Worldwide Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a $0.39 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.67%. Otis Worldwide’s dividend payout ratio is currently 45.09%.
Analyst Ratings Changes
A number of brokerages have issued reports on OTIS. Wells Fargo & Company lowered their target price on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Argus boosted their price target on shares of Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.83.
Read Our Latest Analysis on OTIS
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.
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