Fidelis Capital Partners LLC Buys 321 Shares of Otis Worldwide Co. (NYSE:OTIS)

Fidelis Capital Partners LLC raised its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,343 shares of the company’s stock after purchasing an additional 321 shares during the period. Fidelis Capital Partners LLC’s holdings in Otis Worldwide were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Otis Worldwide in the fourth quarter valued at about $28,000. Orion Capital Management LLC purchased a new position in shares of Otis Worldwide in the third quarter valued at about $30,000. Janiczek Wealth Management LLC lifted its position in shares of Otis Worldwide by 141.1% in the third quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Otis Worldwide in the third quarter valued at about $33,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Otis Worldwide in the fourth quarter valued at about $33,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $95.12 on Friday. The company has a market cap of $38.45 billion, a PE ratio of 28.06 and a beta of 1.01. The stock’s 50 day simple moving average is $96.11 and its two-hundred day simple moving average is $88.84. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.35.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, January 31st. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $3.62 billion for 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 quarter in the prior year, the firm posted $0.75 earnings per share. Equities research analysts expect that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on OTIS. UBS Group boosted their price objective on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Wells Fargo & Company decreased their target price on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Thursday, February 22nd. Barclays boosted their target price on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Vertical Research downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling

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

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.