First Quadrant L P CA Acquires Shares of 8,175 Otis Worldwide (NASDAQ:OTIS)
First Quadrant L P CA acquired a new stake in shares of Otis Worldwide (NASDAQ:OTIS) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,175 shares of the company’s stock, valued at approximately $465,000.
A number of other hedge funds have also recently bought and sold shares of OTIS. Perigon Wealth Management LLC purchased a new stake in shares of Otis Worldwide in the first quarter worth approximately $506,000. Oliver Luxxe Assets LLC purchased a new stake in shares of Otis Worldwide in the first quarter worth approximately $387,000. HNP Capital LLC purchased a new stake in shares of Otis Worldwide in the first quarter worth approximately $1,290,000. Means Investment CO. Inc. purchased a new stake in shares of Otis Worldwide in the first quarter worth approximately $313,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of Otis Worldwide in the first quarter worth approximately $41,000.
In other Otis Worldwide news, insider Montlivault Stephane De sold 10,454 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $51.81, for a total transaction of $541,621.74. Following the transaction, the insider now owns 1,403 shares in the company, valued at $72,689.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Otis Worldwide (NASDAQ:OTIS) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.44 by $0.12. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.92 billion. The company’s revenue was down 9.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.80 annualized dividend and a yield of 1.27%. Otis Worldwide’s dividend payout ratio (DPR) is presently 41.67%.
A number of research firms have recently issued reports on OTIS. Vertical Research began coverage on shares of Otis Worldwide in a research report on Monday, April 6th. They issued a “buy” rating and a $53.00 price target for the company. Barclays reissued a “hold” rating on shares of Otis Worldwide in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Otis Worldwide from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Atlantic Securities initiated coverage on shares of Otis Worldwide in a research report on Tuesday, April 14th. They issued an “overweight” rating for the company. Finally, Wolfe Research initiated coverage on Otis Worldwide in a report on Friday, April 3rd. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Otis Worldwide has a consensus rating of “Hold” and a consensus target price of $58.63.
Otis Worldwide Company Profile
There is no company description available for Otis Worldwide Corp.
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