WBI Investments LLC lessened its stake in Otis Worldwide Co. (NYSE:OTIS – Free Report) by 77.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,369 shares of the company’s stock after selling 8,274 shares during the quarter. WBI Investments LLC’s holdings in Otis Worldwide were worth $228,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Otis Worldwide by 13,638.0% in the fourth quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after acquiring an additional 150,563 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in shares of Otis Worldwide by 37.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,505 shares of the company’s stock worth $671,000 after buying an additional 2,042 shares in the last quarter. Choreo LLC boosted its position in shares of Otis Worldwide by 4.9% in the fourth quarter. Choreo LLC now owns 6,118 shares of the company’s stock valued at $547,000 after acquiring an additional 286 shares during the period. Van ECK Associates Corp purchased a new position in Otis Worldwide during the fourth quarter valued at approximately $6,519,000. Finally, Kestra Private Wealth Services LLC lifted its stake in Otis Worldwide by 26.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,241 shares of the company’s stock worth $827,000 after purchasing an additional 1,949 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Otis Worldwide Price Performance
Shares of OTIS opened at $94.69 on Friday. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.84. The stock has a 50 day simple moving average of $95.10 and a two-hundred day simple moving average of $95.82. The firm has a market cap of $38.29 billion, a P/E ratio of 27.37 and a beta of 1.03.
Otis Worldwide Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, August 16th. Otis Worldwide’s dividend payout ratio is presently 45.09%.
Analyst Ratings Changes
OTIS has been the subject of a number of recent analyst reports. 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. Wells Fargo & Company lowered their price target on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $98.83.
Read Our Latest Research Report on Otis Worldwide
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.
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