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.
Featured Story: How to trade on quiet period expirations
Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide (NASDAQ:OTIS).
Receive News & Ratings for Otis Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otis Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.