Folger Nolan Fleming Douglas Capital Management Inc. Has $585,000 Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in Otis Worldwide Co. (NYSE:OTIS) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,539 shares of the company’s stock after selling 450 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Otis Worldwide were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OTIS. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Otis Worldwide by 54.5% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock valued at $544,000 after buying an additional 2,390 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Otis Worldwide by 142.1% in the 4th quarter. Stevens Capital Management LP now owns 7,555 shares of the company’s stock valued at $676,000 after buying an additional 4,435 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Otis Worldwide by 13,638.0% in the 4th quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock valued at $13,570,000 after buying an additional 150,563 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Otis Worldwide by 176.4% in the 4th quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock valued at $10,378,000 after buying an additional 74,030 shares in the last quarter. Finally, Smith Salley & Associates acquired a new position in shares of Otis Worldwide in the 4th quarter valued at approximately $1,113,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE OTIS traded down $0.82 during midday trading on Friday, reaching $92.20. The stock had a trading volume of 2,314,121 shares, compared to its average volume of 1,745,609. The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 26.65 and a beta of 1.01. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.35. The company’s 50 day moving average price is $96.44 and its 200 day moving average price is $89.35.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results 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 firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.44 billion. Otis Worldwide had a net margin of 9.99% and a negative return on equity of 31.02%. Equities analysts forecast that Otis Worldwide Co. will post 3.87 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.34. Otis Worldwide’s payout ratio is 39.31%.

Insider Transactions at Otis Worldwide

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OTIS shares. Barclays boosted their target price on shares of Otis Worldwide from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a report on Monday, February 5th. Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Melius began coverage on shares of Otis Worldwide in a report on Tuesday, April 2nd. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.86.

Otis Worldwide 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.