Mcdonald Partners LLC Sells 140 Shares of Otis Worldwide Co. (NYSE:OTIS)

Mcdonald Partners LLC lessened its holdings in Otis Worldwide Co. (NYSE:OTIS) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,323 shares of the company’s stock after selling 140 shares during the period. Mcdonald Partners LLC’s holdings in Otis Worldwide were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sarasin & Partners LLP grew its holdings in Otis Worldwide by 11.2% in the 1st quarter. Sarasin & Partners LLP now owns 3,251,612 shares of the company’s stock valued at $322,788,000 after buying an additional 328,539 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Otis Worldwide in the 1st quarter valued at $40,000. FCF Advisors LLC acquired a new position in Otis Worldwide in the 1st quarter valued at $1,920,000. Ballentine Partners LLC grew its holdings in Otis Worldwide by 52.5% in the 1st quarter. Ballentine Partners LLC now owns 6,326 shares of the company’s stock valued at $628,000 after buying an additional 2,179 shares in the last quarter. Finally, Radnor Capital Management LLC grew its holdings in Otis Worldwide by 83.5% in the 1st quarter. Radnor Capital Management LLC now owns 4,447 shares of the company’s stock valued at $441,000 after buying an additional 2,024 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

OTIS has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Argus increased their target price on Otis Worldwide from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Melius initiated coverage on Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating on the stock. Wells Fargo & Company reduced their target price on Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Finally, Barclays increased their target price on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $99.33.

Otis Worldwide Price Performance

NYSE:OTIS traded down $1.21 during trading hours on Tuesday, hitting $95.66. The company’s stock had a trading volume of 1,750,857 shares, compared to its average volume of 2,032,567. The stock has a fifty day simple moving average of $96.15 and a 200-day simple moving average of $93.76. The company has a market capitalization of $38.68 billion, a P/E ratio of 27.69 and a beta of 1.04. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.84.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, equities analysts predict that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.56 annualized dividend and a dividend yield of 1.63%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.09%.

Insider Transactions at Otis Worldwide

In related news, EVP Peiming Zheng sold 30,364 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.69, for a total transaction of $2,844,803.16. Following the completion of the transaction, the executive vice president now directly owns 15,570 shares of the company’s stock, valued at approximately $1,458,753.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

Otis Worldwide Company 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.