562 Shares in Otis Worldwide Co. (NYSE:OTIS) Purchased by Hopwood Financial Services Inc.

Hopwood Financial Services Inc. acquired a new position in Otis Worldwide Co. (NYSE:OTIS) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 562 shares of the company’s stock, valued at approximately $52,000.

A number of other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Otis Worldwide during the 3rd quarter valued at about $29,000. Fortitude Family Office LLC boosted its holdings in shares of Otis Worldwide by 485.5% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the company’s stock worth $30,000 after buying an additional 267 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Otis Worldwide in the fourth quarter worth about $33,000. Golden State Wealth Management LLC acquired a new position in shares of Otis Worldwide in the fourth quarter worth about $34,000. Finally, Truvestments Capital LLC acquired a new position in shares of Otis Worldwide in the third quarter worth about $36,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on OTIS shares. Wolfe Research cut shares of Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price for the company. in a report on Thursday, December 12th. UBS Group began coverage on shares of Otis Worldwide in a research report on Wednesday, November 13th. They set a “neutral” rating and a $113.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Finally, Barclays lowered their price objective on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $102.88.

Otis Worldwide Stock Down 1.2 %

NYSE OTIS opened at $99.97 on Thursday. The stock has a market capitalization of $39.64 billion, a PE ratio of 24.62 and a beta of 1.05. The company has a 50 day moving average price of $96.43 and a two-hundred day moving average price of $97.98. Otis Worldwide Co. has a 12-month low of $90.12 and a 12-month high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. As a group, equities analysts anticipate that Otis Worldwide Co. will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, February 14th. Otis Worldwide’s payout ratio is 38.42%.

Otis Worldwide announced that its Board of Directors has initiated a stock buyback plan on Thursday, January 16th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Otis Worldwide

In related news, EVP Nora E. Lafreniere sold 1,700 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $95.91, for a total transaction of $163,047.00. Following the completion of the transaction, the executive vice president now directly owns 24,927 shares in the company, valued at $2,390,748.57. This represents a 6.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Judith Fran Marks sold 38,012 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $94.41, for a total transaction of $3,588,712.92. Following the transaction, the chief executive officer now owns 245,883 shares of the company’s stock, valued at approximately $23,213,814.03. The trade was a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,281 shares of company stock worth $10,747,553. 0.23% of the stock is owned by 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.