52,695 Shares in Otis Worldwide (NASDAQ:OTIS) Acquired by Huntington National Bank

Huntington National Bank purchased a new position in shares of Otis Worldwide (NASDAQ:OTIS) during the second quarter, Holdings Channel reports. The firm purchased 52,695 shares of the company’s stock, valued at approximately $2,996,000.

Other large investors have also recently added to or reduced their stakes in the company. Core Alternative Capital purchased a new position in shares of Otis Worldwide in the 2nd quarter valued at approximately $25,000. Independence Bank of Kentucky purchased a new position in shares of Otis Worldwide in the 2nd quarter valued at approximately $26,000. Sowa Financial Group Inc. purchased a new position in shares of Otis Worldwide in the 2nd quarter valued at approximately $26,000. Truehand Inc purchased a new position in shares of Otis Worldwide in the 2nd quarter valued at approximately $27,000. Finally, Gradient Investments LLC purchased a new position in shares of Otis Worldwide in the 2nd quarter valued at approximately $27,000.

In other news, insider Montlivault Stephane De sold 10,454 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $51.81, for a total value of $541,621.74. Following the completion of the transaction, the insider now directly owns 1,403 shares of the company’s stock, valued at $72,689.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Several research analysts have weighed in on the company. Barclays reiterated a “hold” rating on shares of Otis Worldwide in a research note on Friday, May 8th. Atlantic Securities assumed coverage on Otis Worldwide in a research note on Tuesday, April 14th. They issued an “overweight” rating on the stock. Credit Suisse Group lifted their price target on Otis Worldwide from $55.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday. William Blair assumed coverage on Otis Worldwide in a research note on Friday, May 8th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Otis Worldwide from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $58.63.

Shares of OTIS stock opened at $62.74 on Friday. The business’s fifty day moving average price is $57.45. The firm has a market capitalization of $27.17 billion and a PE ratio of 32.68. Otis Worldwide has a 1 year low of $38.00 and a 1 year high of $64.52.

Otis Worldwide (NASDAQ:OTIS) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.12. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.92 billion. Otis Worldwide’s revenue for the quarter 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. Stockholders of record on Friday, August 21st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. Otis Worldwide’s dividend payout ratio (DPR) is 41.67%.

About Otis Worldwide

There is no company description available for Otis Worldwide Corp.

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Institutional Ownership by Quarter for Otis Worldwide (NASDAQ:OTIS)

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