Moody Lynn & Lieberson LLC Has $1.83 Million Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Moody Lynn & Lieberson LLC lowered its stake in Otis Worldwide Co. (NYSE:OTIS) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,399 shares of the company’s stock after selling 728 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Otis Worldwide were worth $1,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Otis Worldwide by 54.5% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock valued at $544,000 after purchasing an additional 2,390 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Otis Worldwide by 176.4% in the 4th quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock worth $10,378,000 after acquiring an additional 74,030 shares in the last quarter. Curbstone Financial Management Corp lifted its holdings in Otis Worldwide by 3.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 6,968 shares of the company’s stock worth $560,000 after buying an additional 200 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Otis Worldwide by 29.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,428 shares of the company’s stock worth $12,117,000 after buying an additional 30,530 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Otis Worldwide by 4.5% during the 4th quarter. Nordea Investment Management AB now owns 387,312 shares of the company’s stock worth $34,711,000 after buying an additional 16,787 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Up 0.6 %

Shares of OTIS stock opened at $97.76 on Friday. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $100.35. The firm has a 50 day moving average price of $94.88 and a two-hundred day moving average price of $87.72. The company has a market capitalization of $39.64 billion, a PE ratio of 28.84 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm earned $0.75 earnings per share. As a group, research analysts expect that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.39%. Otis Worldwide’s dividend payout ratio is presently 40.12%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Argus upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Thursday, February 22nd. Vertical Research downgraded shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Otis Worldwide in a research note on Monday, February 5th. Barclays increased their price objective on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a research note on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average price target of $94.29.

Insider Transactions at Otis Worldwide

In related news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the transaction, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the transaction, the chief executive officer now owns 192,319 shares in the company, valued at $17,660,653.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the transaction, the insider now owns 67,274 shares in the company, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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.