swisspartners Ltd. purchased a new position in shares of Otis Worldwide Co. (NYSE:OTIS) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 5,639 shares of the company’s stock, valued at approximately $387,000.
Several other large investors also recently modified their holdings of OTIS. Cullen Frost Bankers Inc. grew its holdings in Otis Worldwide by 957.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 70,847 shares of the company’s stock worth $4,786,000 after acquiring an additional 64,146 shares in the last quarter. OneAscent Wealth Management LLC acquired a new position in Otis Worldwide in the fourth quarter worth about $1,023,000. Davidson Investment Advisors increased its holdings in Otis Worldwide by 4.6% in the first quarter. Davidson Investment Advisors now owns 168,055 shares of the company’s stock valued at $11,503,000 after buying an additional 7,465 shares during the last quarter. California Public Employees Retirement System raised its stake in Otis Worldwide by 3.6% during the fourth quarter. California Public Employees Retirement System now owns 1,026,132 shares of the company’s stock valued at $69,315,000 after buying an additional 35,274 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Otis Worldwide by 23.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 185,313 shares of the company’s stock worth $12,685,000 after buying an additional 35,311 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.
In other Otis Worldwide news, insider Peiming Zheng sold 15,234 shares of the business’s stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $78.67, for a total value of $1,198,458.78. Following the sale, the insider now directly owns 19,022 shares in the company, valued at $1,496,460.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.05% of the company’s stock.
OTIS traded down $0.67 on Friday, reaching $79.75. The company had a trading volume of 3,819 shares, compared to its average volume of 2,753,336. Otis Worldwide Co. has a one year low of $53.83 and a one year high of $81.56. The stock has a market cap of $34.22 billion and a P/E ratio of 33.23. The firm has a fifty day moving average of $75.85.
Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Sunday, April 25th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.09. Otis Worldwide had a net margin of 7.95% and a negative return on equity of 33.25%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Otis Worldwide’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Otis Worldwide Co. will post 2.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Friday, May 21st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, May 20th. This represents a $0.96 annualized dividend and a yield of 1.20%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.20. Otis Worldwide’s dividend payout ratio (DPR) is currently 38.10%.
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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