Larson Financial Group LLC Increases Stake in Otis Worldwide Co. (NYSE:OTIS)

Larson Financial Group LLC boosted its stake in Otis Worldwide Co. (NYSE:OTIS) by 88.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,753 shares of the company’s stock after purchasing an additional 823 shares during the quarter. Larson Financial Group LLC’s holdings in Otis Worldwide were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in OTIS. AE Wealth Management LLC boosted its stake in Otis Worldwide by 15.4% in the 3rd quarter. AE Wealth Management LLC now owns 11,078 shares of the company’s stock worth $890,000 after purchasing an additional 1,476 shares during the period. Global Retirement Partners LLC boosted its stake in Otis Worldwide by 23.4% in the 3rd quarter. Global Retirement Partners LLC now owns 1,174 shares of the company’s stock worth $94,000 after purchasing an additional 223 shares during the period. Park Place Capital Corp boosted its stake in Otis Worldwide by 88.2% in the 3rd quarter. Park Place Capital Corp now owns 2,046 shares of the company’s stock worth $164,000 after purchasing an additional 959 shares during the period. Avior Wealth Management LLC boosted its stake in Otis Worldwide by 42.3% in the 3rd quarter. Avior Wealth Management LLC now owns 481 shares of the company’s stock worth $39,000 after purchasing an additional 143 shares during the period. Finally, Founders Financial Securities LLC bought a new position in Otis Worldwide in the 3rd quarter worth about $215,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 4.2 %

Shares of Otis Worldwide stock opened at $93.37 on Thursday. The company has a market cap of $37.74 billion, a PE ratio of 27.54 and a beta of 1.01. The business has a 50 day moving average of $96.41 and a 200 day moving average of $89.24. Otis Worldwide Co. has a 52 week low of $73.32 and a 52 week high of $100.35.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.44 billion. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. On average, research analysts anticipate that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were issued a $0.34 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.46%. Otis Worldwide’s dividend payout ratio (DPR) is 40.12%.

Insiders Place Their Bets

In other news, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction 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 sale, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Montlivault Stephane De sold 18,393 shares of the stock in a transaction 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 sale, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Judith Fran Marks sold 37,312 shares of the 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 completion of the sale, the chief executive officer now directly owns 192,319 shares in the company, valued at $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Argus upgraded Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research report on Monday, February 5th. UBS Group boosted their target price on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Barclays upped their target price on Otis Worldwide from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Vertical Research lowered Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $95.00.

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.