Telos Capital Management Inc. Sells 831 Shares of Otis Worldwide Co. (NYSE:OTIS)

Telos Capital Management Inc. lowered its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 18.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,737 shares of the company’s stock after selling 831 shares during the quarter. Telos Capital Management Inc.’s holdings in Otis Worldwide were worth $334,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OTIS. Norges Bank bought a new position in shares of Otis Worldwide during the 4th quarter valued at approximately $370,013,000. Alliancebernstein L.P. boosted its holdings in Otis Worldwide by 32.5% during the 2nd quarter. Alliancebernstein L.P. now owns 12,239,672 shares of the company’s stock valued at $1,089,453,000 after acquiring an additional 2,999,494 shares during the period. JPMorgan Chase & Co. boosted its holdings in Otis Worldwide by 47.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,540,422 shares of the company’s stock valued at $605,571,000 after acquiring an additional 2,442,203 shares during the period. PineStone Asset Management Inc. boosted its holdings in Otis Worldwide by 300.6% during the 3rd quarter. PineStone Asset Management Inc. now owns 2,844,325 shares of the company’s stock valued at $228,428,000 after acquiring an additional 2,134,289 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Otis Worldwide by 54.3% during the 1st quarter. Wellington Management Group LLP now owns 4,221,665 shares of the company’s stock valued at $324,857,000 after acquiring an additional 1,484,963 shares during the period. Institutional investors own 88.03% of the company’s stock.

Insider Buying and Selling

In related news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the sale, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Montlivault Stephane De sold 18,393 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the completion of the sale, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the sale, the chief executive officer now owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Vertical Research cut Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Melius assumed coverage on Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Otis Worldwide in a report on Monday, February 5th. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Thursday, February 22nd. Finally, UBS Group upped their target price on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.29.

Otis Worldwide Trading Down 1.1 %

Shares of OTIS stock opened at $94.96 on Thursday. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35. The stock has a market capitalization of $38.38 billion, a price-to-earnings ratio of 28.01 and a beta of 1.01. The stock has a fifty day simple moving average of $95.93 and a two-hundred day simple moving average of $88.68.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. During the same period in the prior year, the business posted $0.75 EPS. Research analysts predict that Otis Worldwide Co. will post 3.87 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s dividend payout ratio (DPR) is currently 40.12%.

Otis Worldwide Company Profile

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.