Otis Worldwide Co. (NYSE:OTIS) Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 3.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,110 shares of the company’s stock after purchasing an additional 176 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Otis Worldwide were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in OTIS. Riverview Trust Co purchased a new position in Otis Worldwide in the 3rd quarter worth $25,000. Meeder Asset Management Inc. increased its holdings in shares of Otis Worldwide by 264.9% in the second quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock valued at $26,000 after purchasing an additional 196 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Otis Worldwide in the third quarter worth about $28,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Otis Worldwide by 675.7% during the second quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the period. Finally, Jamison Private Wealth Management Inc. boosted its position in Otis Worldwide by 5,720.0% in the second quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock valued at $28,000 after buying an additional 286 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on OTIS shares. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, October 8th. Barclays boosted their target price on shares of Otis Worldwide from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Morgan Stanley initiated coverage on Otis Worldwide in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Finally, Wells Fargo & Company raised their target price on Otis Worldwide from $95.00 to $108.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus target price of $102.71.

Otis Worldwide Stock Down 1.2 %

Shares of Otis Worldwide stock opened at $101.26 on Monday. The firm has a market cap of $40.94 billion, a PE ratio of 29.27 and a beta of 1.03. Otis Worldwide Co. has a twelve month low of $75.16 and a twelve month high of $106.33. The business has a 50-day moving average price of $98.48 and a 200 day moving average price of $96.79.

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.