Fractal Investments LLC Has $384,000 Stake in Otis Worldwide Co. (NYSE:OTIS)

Fractal Investments LLC reduced its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 60.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,690 shares of the company’s stock after selling 5,710 shares during the quarter. Fractal Investments LLC’s holdings in Otis Worldwide were worth $384,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OTIS. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Otis Worldwide by 3.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,152 shares of the company’s stock valued at $6,468,000 after buying an additional 2,393 shares during the last quarter. Financial Counselors Inc. bought a new stake in shares of Otis Worldwide during the 1st quarter worth $212,000. Rehmann Capital Advisory Group acquired a new position in Otis Worldwide in the 1st quarter valued at $253,000. Larson Financial Group LLC raised its holdings in Otis Worldwide by 121.2% in the 1st quarter. Larson Financial Group LLC now owns 3,877 shares of the company’s stock worth $385,000 after acquiring an additional 2,124 shares during the period. Finally, Team Hewins LLC acquired a new position in Otis Worldwide during the 1st quarter worth $220,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Up 0.7 %

Shares of OTIS opened at $100.16 on Wednesday. Otis Worldwide Co. has a 12 month low of $79.44 and a 12 month high of $106.33. The stock has a market cap of $40.12 billion, a price-to-earnings ratio of 24.98 and a beta of 1.04. The company has a 50-day moving average price of $99.23 and a two-hundred day moving average price of $96.94.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The company had revenue of $3.55 billion during 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 business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. Equities research analysts expect that Otis Worldwide Co. will post 3.85 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 1.56%. Otis Worldwide’s dividend payout ratio (DPR) is presently 38.90%.

Analyst Ratings Changes

Several analysts recently weighed in on OTIS shares. Royal Bank of Canada restated an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a research note on Thursday, September 19th. Barclays dropped their target price on shares of Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley started coverage on shares of Otis Worldwide in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $102.00.

About Otis Worldwide

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.