Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Valley Brook Capital Group Inc.

Valley Brook Capital Group Inc. reduced its holdings in Otis Worldwide Co. (NYSE:OTIS) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,315 shares of the company’s stock after selling 412 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Otis Worldwide were worth $476,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Commonwealth Equity Services LLC raised its holdings in Otis Worldwide by 0.5% during the third quarter. Commonwealth Equity Services LLC now owns 154,776 shares of the company’s stock worth $12,430,000 after purchasing an additional 733 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Otis Worldwide by 13.1% during the third quarter. Stratos Wealth Partners LTD. now owns 6,759 shares of the company’s stock worth $543,000 after purchasing an additional 785 shares during the last quarter. Stratos Wealth Advisors LLC raised its holdings in Otis Worldwide by 6.1% during the third quarter. Stratos Wealth Advisors LLC now owns 2,782 shares of the company’s stock worth $223,000 after purchasing an additional 160 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in Otis Worldwide by 1.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 200,100 shares of the company’s stock worth $16,070,000 after purchasing an additional 3,300 shares during the last quarter. Finally, JB Capital LLC raised its holdings in Otis Worldwide by 1.4% during the third quarter. JB Capital LLC now owns 26,443 shares of the company’s stock worth $2,124,000 after purchasing an additional 360 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the completion of the transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Judith Fran Marks sold 37,312 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the completion of the transaction, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 of the company’s stock, valued at $6,128,661.40. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Up 0.4 %

Shares of NYSE:OTIS traded up $0.35 during midday trading on Friday, reaching $92.12. The company’s stock had a trading volume of 1,788,702 shares, compared to its average volume of 1,949,805. The firm has a market cap of $37.25 billion, a price-to-earnings ratio of 26.62 and a beta of 1.03. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.35. The business has a 50 day moving average price of $96.44 and a 200 day moving average price of $89.89.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. Sell-side analysts anticipate that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.69%. Otis Worldwide’s dividend payout ratio is 39.31%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group raised their price target on Otis Worldwide from $87.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. raised their price target on Otis Worldwide from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Melius assumed coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating for the company. Barclays raised their price target 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, Wells Fargo & Company dropped their price target on Otis Worldwide from $102.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and an average price target 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.