Schroder Investment Management Group lessened its holdings in Otis Worldwide Co. (NYSE:OTIS) by 29.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,783,690 shares of the company’s stock after selling 729,976 shares during the period. Schroder Investment Management Group owned about 0.41% of Otis Worldwide worth $120,489,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in OTIS. Berman Capital Advisors LLC raised its holdings in shares of Otis Worldwide by 67.2% during the fourth quarter. Berman Capital Advisors LLC now owns 403 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares in the last quarter. Safeguard Investment Advisory Group LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter worth $26,000. Addison Advisors LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter worth $27,000. Ironwood Wealth Management LLC. raised its holdings in shares of Otis Worldwide by 1,280.0% during the fourth quarter. Ironwood Wealth Management LLC. now owns 414 shares of the company’s stock worth $28,000 after acquiring an additional 384 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in Otis Worldwide during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 83.76% of the company’s stock.
Several research firms have weighed in on OTIS. Credit Suisse Group raised their target price on Otis Worldwide from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, February 2nd. Barclays raised their price target on Otis Worldwide from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Tuesday. Zacks Investment Research downgraded Otis Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, February 3rd. HSBC raised Otis Worldwide from a “reduce” rating to a “hold” rating and set a $65.00 price target on the stock in a research report on Monday, March 29th. Finally, Cowen raised their price target on Otis Worldwide from $75.00 to $77.00 in a research report on Wednesday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.75.
Otis Worldwide (NYSE:OTIS) last released its earnings results on Sunday, January 31st. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.39 billion. On average, sell-side analysts predict that Otis Worldwide Co. will post 2.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Friday, February 12th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Thursday, February 11th.
About Otis Worldwide
Otis Worldwide Corporation manufactures, installs, and services elevators and escalators in the United States, China, and internationally. The company operates through 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.
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