Sanctuary Advisors LLC Buys 737 Shares of Otis Worldwide Co. (NYSE:OTIS)

Sanctuary Advisors LLC boosted its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,223 shares of the company’s stock after acquiring an additional 737 shares during the quarter. Sanctuary Advisors LLC’s holdings in Otis Worldwide were worth $2,350,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Optas LLC increased its stake in Otis Worldwide by 2.2% during the third quarter. Optas LLC now owns 5,522 shares of the company’s stock worth $574,000 after acquiring an additional 118 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Otis Worldwide by 4.4% during the third quarter. Rehmann Capital Advisory Group now owns 2,867 shares of the company’s stock valued at $299,000 after buying an additional 122 shares during the period. Brighton Jones LLC boosted its position in shares of Otis Worldwide by 5.0% during the second quarter. Brighton Jones LLC now owns 2,580 shares of the company’s stock valued at $248,000 after buying an additional 124 shares during the period. Groupama Asset Managment grew its stake in shares of Otis Worldwide by 1.4% during the third quarter. Groupama Asset Managment now owns 9,428 shares of the company’s stock valued at $980,000 after buying an additional 132 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its stake in shares of Otis Worldwide by 4.6% during the second quarter. Resonant Capital Advisors LLC now owns 3,426 shares of the company’s stock valued at $330,000 after buying an additional 150 shares during the last quarter. 88.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Otis Worldwide

In other news, EVP Abbe Luersman sold 9,000 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 owns 9,992 shares in the company, valued at approximately $1,009,391.84. This represents a 47.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Up 0.2 %

Shares of NYSE:OTIS opened at $96.34 on Wednesday. The stock has a market cap of $38.48 billion, a P/E ratio of 24.02 and a beta of 1.04. The business’s 50 day moving average is $101.15 and its 200 day moving average is $98.00. Otis Worldwide Co. has a 52-week low of $85.42 and a 52-week high of $106.33.

Otis Worldwide (NYSE:OTIS) last announced 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 company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.95 EPS. On average, sell-side analysts anticipate that Otis Worldwide Co. will post 3.86 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were given a dividend of $0.39 per share. The ex-dividend date was Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 1.62%. Otis Worldwide’s dividend payout ratio (DPR) is presently 38.90%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays cut Otis Worldwide from an “equal weight” rating to an “underweight” rating and set a $94.00 target price on the stock. in a research note on Thursday, December 5th. Wells Fargo & Company cut their target price on Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Wolfe Research cut Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price on the stock. in a research note on Thursday, December 12th. UBS Group assumed coverage on Otis Worldwide in a research note on Wednesday, November 13th. They set a “neutral” rating and a $113.00 target price on the stock. Finally, Morgan Stanley started coverage on Otis Worldwide in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and an average target price of $104.50.

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.