Integrated Wealth Concepts LLC reduced its position in Otis Worldwide Co. (NYSE:OTIS – Free Report) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,765 shares of the company’s stock after selling 826 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Otis Worldwide were worth $807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co bought a new stake in Otis Worldwide during the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its holdings in Otis Worldwide by 264.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock valued at $26,000 after buying an additional 196 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Otis Worldwide during the third quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Otis Worldwide during the third quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC lifted its holdings in shares of Otis Worldwide by 675.7% in the second quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock worth $28,000 after buying an additional 250 shares in the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Otis Worldwide
In other news, EVP Abbe Luersman sold 9,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $101.02, for a total transaction of $909,180.00. Following the completion of the sale, the executive vice president now directly owns 9,992 shares of the company’s stock, valued at approximately $1,009,391.84. The trade was a 47.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on Otis Worldwide
Otis Worldwide Stock Performance
NYSE:OTIS opened at $100.90 on Tuesday. The stock’s fifty day moving average is $101.91 and its 200 day moving average is $97.92. The firm has a market capitalization of $40.31 billion, a PE ratio of 25.16 and a beta of 1.04. Otis Worldwide Co. has a fifty-two week low of $85.42 and a fifty-two week high of $106.33.
Otis Worldwide (NYSE:OTIS – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. Otis Worldwide’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. Equities analysts forecast that Otis Worldwide Co. will post 3.85 EPS for the current year.
Otis Worldwide Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.55%. Otis Worldwide’s dividend payout ratio is 38.90%.
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.
Featured Articles
- Five stocks we like better than Otis Worldwide
- Roth IRA Calculator: Calculate Your Potential Returns
- How to Master Trading Discipline: Overcome Emotional Challenges
- Top Biotech Stocks: Exploring Innovation Opportunities
- Does China Investigation Change NVIDIA’s Outlook; Yes, No, Maybe?
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- Is Marvell Technology Chipping Away at NVIDIA’s Market Lead?
Receive News & Ratings for Otis Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otis Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.