Blair William & Co. IL Has $2.36 Million Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Blair William & Co. IL raised its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 64.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,544 shares of the company’s stock after buying an additional 9,643 shares during the quarter. Blair William & Co. IL’s holdings in Otis Worldwide were worth $2,363,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB raised its position in Otis Worldwide by 19.6% during the first quarter. Nordea Investment Management AB now owns 463,190 shares of the company’s stock valued at $46,138,000 after buying an additional 75,878 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Otis Worldwide by 173.7% in the first quarter. First Eagle Investment Management LLC now owns 20,048 shares of the company’s stock worth $1,990,000 after purchasing an additional 12,722 shares in the last quarter. CIBC Asset Management Inc lifted its position in Otis Worldwide by 29.5% in the 4th quarter. CIBC Asset Management Inc now owns 144,536 shares of the company’s stock worth $12,932,000 after buying an additional 32,886 shares in the last quarter. Cetera Investment Advisers boosted its position in Otis Worldwide by 259.1% during the first quarter. Cetera Investment Advisers now owns 46,371 shares of the company’s stock valued at $4,603,000 after purchasing an additional 33,457 shares during the last quarter. Finally, Cloverfields Capital Group LP lifted its holdings in shares of Otis Worldwide by 212.2% during the 4th quarter. Cloverfields Capital Group LP now owns 91,737 shares of the company’s stock valued at $8,208,000 after buying an additional 62,350 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Price Performance

Shares of OTIS opened at $95.52 on Monday. The company has a market capitalization of $38.26 billion, a PE ratio of 27.61 and a beta of 1.03. Otis Worldwide Co. has a one year low of $73.32 and a one year high of $100.84. The company’s fifty day moving average price is $94.23 and its 200 day moving average price is $95.93.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.74 billion. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. Otis Worldwide’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Analysts anticipate that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, August 16th. Otis Worldwide’s dividend payout ratio is presently 45.09%.

Analyst Ratings Changes

OTIS has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Otis Worldwide in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price objective on shares of Otis Worldwide in a report on Thursday. Finally, Wells Fargo & Company cut their target price on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and a consensus price target of $100.00.

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.