2,853 Shares in Otis Worldwide Co. (NYSE:OTIS) Purchased by Prospera Private Wealth LLC

Prospera Private Wealth LLC bought a new stake in Otis Worldwide Co. (NYSE:OTIS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,853 shares of the company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds also recently bought and sold shares of OTIS. Hancock Whitney Corp increased its stake in Otis Worldwide by 4.6% during the 1st quarter. Hancock Whitney Corp now owns 2,549 shares of the company’s stock worth $253,000 after buying an additional 111 shares during the period. Optas LLC boosted its holdings in shares of Otis Worldwide by 2.2% in the 3rd quarter. Optas LLC now owns 5,522 shares of the company’s stock valued at $574,000 after buying an additional 118 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Otis Worldwide by 5.0% in the 2nd quarter. Brighton Jones LLC now owns 2,580 shares of the company’s stock valued at $248,000 after buying an additional 124 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Otis Worldwide by 0.9% in the 2nd quarter. Park Avenue Securities LLC now owns 14,931 shares of the company’s stock valued at $1,437,000 after buying an additional 127 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its stake in Otis Worldwide by 4.6% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,426 shares of the company’s stock worth $330,000 after purchasing an additional 150 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

OTIS opened at $99.67 on Thursday. The company’s 50 day simple moving average is $100.90 and its 200 day simple moving average is $97.49. Otis Worldwide Co. has a 1 year low of $83.99 and a 1 year high of $106.33. The stock has a market capitalization of $39.81 billion, a PE ratio of 24.86 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. As a group, sell-side analysts expect that Otis Worldwide Co. will post 3.85 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.57%. Otis Worldwide’s dividend payout ratio is currently 38.90%.

Analyst Ratings Changes

A number of analysts recently weighed in on OTIS shares. Barclays decreased their price target on shares of Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. Morgan Stanley started coverage on shares of Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.57.

Insider Activity

In related news, EVP Abbe Luersman sold 9,000 shares of Otis Worldwide stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $101.02, for a total value of $909,180.00. Following the completion of the sale, the executive vice president now owns 9,992 shares in the company, valued at approximately $1,009,391.84. The trade was a 47.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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.