Compagnie Lombard Odier SCmA Purchases New Shares in Otis Worldwide Co. (NYSE:OTIS)

Compagnie Lombard Odier SCmA purchased a new position in Otis Worldwide Co. (NYSE:OTISGet Rating) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 592 shares of the company’s stock, valued at approximately $51,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Otis Worldwide by 3.9% during the third quarter. BlackRock Inc. now owns 36,709,140 shares of the company’s stock valued at $3,020,428,000 after acquiring an additional 1,372,775 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Otis Worldwide by 67.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,539,332 shares of the company’s stock worth $126,656,000 after purchasing an additional 619,205 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Otis Worldwide in the 4th quarter valued at $52,779,000. Geode Capital Management LLC lifted its holdings in Otis Worldwide by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 8,571,437 shares of the company’s stock valued at $704,002,000 after purchasing an additional 520,103 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Otis Worldwide by 332.7% during the 3rd quarter. HighTower Advisors LLC now owns 481,109 shares of the company’s stock worth $39,566,000 after purchasing an additional 369,921 shares during the last quarter. Institutional investors own 83.32% of the company’s stock.

Shares of NYSE OTIS opened at $76.60 on Thursday. The company has a market capitalization of $32.39 billion, a P/E ratio of 26.32 and a beta of 0.88. The company has a 50 day simple moving average of $75.85 and a 200-day simple moving average of $80.67. Otis Worldwide Co. has a 1 year low of $71.07 and a 1 year high of $92.84.

Otis Worldwide (NYSE:OTISGet Rating) last issued its quarterly earnings data on Monday, April 25th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Otis Worldwide had a negative return on equity of 35.81% and a net margin of 8.73%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Otis Worldwide Co. will post 3.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 20th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, May 19th. Otis Worldwide’s dividend payout ratio (DPR) is presently 32.99%.

A number of equities research analysts have recently commented on OTIS shares. Credit Suisse Group reduced their target price on shares of Otis Worldwide from $88.00 to $81.00 and set a “neutral” rating for the company in a research report on Tuesday, April 26th. Barclays cut their price objective on shares of Otis Worldwide from $88.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, April 26th. Cowen lowered their target price on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating on the stock in a report on Tuesday, April 26th. Finally, Cowen cut their price target on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $82.31.

Otis Worldwide Company Profile (Get Rating)

Otis Worldwide Corporation manufactures, installs, and services 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.

Further Reading

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Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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