UNIVEST FINANCIAL Corp Purchases 14,087 Shares of Otis Worldwide Corporation $OTIS

UNIVEST FINANCIAL Corp acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,087 shares of the company’s stock, valued at approximately $906,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobi Capital Management LLC acquired a new stake in Otis Worldwide during the third quarter valued at approximately $155,000. First Command Advisory Services Inc. grew its stake in shares of Otis Worldwide by 141.2% in the 3rd quarter. First Command Advisory Services Inc. now owns 2,730 shares of the company’s stock valued at $176,000 after purchasing an additional 1,598 shares during the period. Inspire Trust Co. N.A. acquired a new position in shares of Otis Worldwide in the 3rd quarter worth approximately $4,567,000. Mesirow Financial Investment Management Inc. raised its holdings in shares of Otis Worldwide by 3.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,913 shares of the company’s stock worth $316,000 after buying an additional 167 shares in the last quarter. Finally, DMKC Advisory Services LLC lifted its position in shares of Otis Worldwide by 17.8% during the 3rd quarter. DMKC Advisory Services LLC now owns 45,207 shares of the company’s stock worth $2,908,000 after buying an additional 6,820 shares during the period. 88.03% of the stock is owned by institutional investors.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, insider Joseph Armas sold 835 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $77.74, for a total value of $64,912.90. Following the transaction, the insider owned 2,155 shares of the company’s stock, valued at approximately $167,529.70. The trade was a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OTIS shares. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research note on Monday, August 10th. Sanford C. Bernstein increased their price objective on Otis Worldwide from $90.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Otis Worldwide in a report on Tuesday. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $77.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $91.20.

Otis Worldwide Trading Down 0.5%

NYSE OTIS opened at $77.12 on Friday. The firm has a market cap of $29.36 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.81 and a beta of 0.87. The company has a 50 day moving average of $70.91 and a 200-day moving average of $75.91. Otis Worldwide Corporation has a 1-year low of $63.58 and a 1-year high of $94.57.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, October 28th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.85 billion. Otis Worldwide had a negative return on equity of 28.45% and a net margin of 10.28%. Otis Worldwide’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. On average, analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be given a $0.44 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.76 annualized dividend and a yield of 2.3%. Otis Worldwide’s payout ratio is presently 43.78%.

Otis Worldwide Company Profile

Otis Worldwide designs, manufactures, installs, services, and modernizes elevators, escalators, and moving walkways. Its equipment is used in residential, commercial, infrastructure, and institutional buildings, including offices, hotels, hospitals, and transit systems. The company also provides maintenance, repair, and modernization services for its own equipment and products made by other manufacturers. These services help building owners and operators maintain the safety, reliability, and performance of vertical transportation systems.