Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont lowered its stake in Otis Worldwide Co. (NYSE:OTIS) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,918 shares of the company’s stock after selling 1,653 shares during the quarter. Trust Co. of Vermont’s holdings in Otis Worldwide were worth $1,340,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of OTIS. Rise Advisors LLC raised its position in Otis Worldwide by 337.7% in the second quarter. Rise Advisors LLC now owns 709 shares of the company’s stock worth $68,000 after acquiring an additional 547 shares in the last quarter. Mather Group LLC. raised its position in Otis Worldwide by 87.2% in the second quarter. Mather Group LLC. now owns 3,802 shares of the company’s stock worth $377,000 after acquiring an additional 1,771 shares in the last quarter. Douglas Lane & Associates LLC raised its position in Otis Worldwide by 15.3% in the second quarter. Douglas Lane & Associates LLC now owns 3,396 shares of the company’s stock worth $327,000 after acquiring an additional 450 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new stake in Otis Worldwide in the second quarter worth about $67,000. Finally, Versant Capital Management Inc raised its position in Otis Worldwide by 125.0% in the second quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock worth $36,000 after acquiring an additional 205 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Trading Down 0.1 %

OTIS stock traded down $0.05 during midday trading on Tuesday, hitting $93.37. The stock had a trading volume of 3,123,196 shares, compared to its average volume of 2,127,094. The firm has a market capitalization of $37.75 billion, a price-to-earnings ratio of 26.99 and a beta of 1.03. Otis Worldwide Co. has a 52 week low of $73.32 and a 52 week high of $100.84. The stock has a 50-day simple moving average of $96.70 and a 200 day simple moving average of $95.49.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Otis Worldwide had a negative return on equity of 31.65% and a net margin of 10.35%. Otis Worldwide’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. On average, equities analysts forecast that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.67%. Otis Worldwide’s dividend payout ratio is 45.09%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Otis Worldwide from $104.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Argus upped their price objective on shares of Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.83.

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.