Otis Worldwide Corporation $OTIS Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its position in Otis Worldwide Corporation (NYSE:OTIS) by 12,345.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 499,177 shares of the company’s stock after buying an additional 495,166 shares during the quarter. SG Americas Securities LLC’s holdings in Otis Worldwide were worth $43,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Otis Worldwide by 116.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,201,675 shares of the company’s stock valued at $104,966,000 after acquiring an additional 646,771 shares during the last quarter. Elevation Wealth Partners LLC acquired a new position in Otis Worldwide during the fourth quarter worth about $32,000. Sound View Wealth Advisors Group LLC lifted its holdings in shares of Otis Worldwide by 5.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 4,144 shares of the company’s stock valued at $362,000 after purchasing an additional 210 shares in the last quarter. Maridea Wealth Management LLC purchased a new stake in shares of Otis Worldwide in the fourth quarter valued at about $231,000. Finally, Nordea Investment Management AB grew its position in shares of Otis Worldwide by 7.3% in the fourth quarter. Nordea Investment Management AB now owns 76,564 shares of the company’s stock valued at $6,707,000 after purchasing an additional 5,237 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. New Street Research set a $98.00 price objective on shares of Otis Worldwide in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. Wolfe Research reissued an “outperform” rating on shares of Otis Worldwide in a research note on Monday, March 16th. JPMorgan Chase & Co. lowered shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price on the stock. in a report on Friday, January 30th. Finally, BNP Paribas Exane raised shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.44.

Insider Transactions at Otis Worldwide

In other news, EVP Neil Green sold 6,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $86.45, for a total value of $518,700.00. Following the transaction, the executive vice president directly owned 3,773 shares in the company, valued at $326,175.85. This trade represents a 61.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Judith Fran Marks sold 56,107 shares of Otis Worldwide stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $90.89, for a total value of $5,099,565.23. Following the completion of the transaction, the chief executive officer directly owned 231,072 shares in the company, valued at $21,002,134.08. This represents a 19.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 158,013 shares of company stock worth $14,337,635 in the last three months. 0.23% of the stock is currently owned by insiders.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $77.87 on Wednesday. The firm has a market capitalization of $30.27 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00. Otis Worldwide Corporation has a one year low of $77.80 and a one year high of $105.95. The company has a 50 day moving average price of $88.28 and a 200 day moving average price of $89.00.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $1.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.03. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the business earned $0.93 EPS. Otis Worldwide’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were issued a $0.42 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. Otis Worldwide’s dividend payout ratio (DPR) is presently 48.00%.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.