Czech National Bank Acquires 4,549 Shares of Otis Worldwide Co. (NYSE:OTIS)

Czech National Bank lifted its stake in Otis Worldwide Co. (NYSE:OTIS) by 5.9% during the third quarter, HoldingsChannel reports. The firm owned 81,597 shares of the company’s stock after purchasing an additional 4,549 shares during the period. Czech National Bank’s holdings in Otis Worldwide were worth $8,481,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its holdings in shares of Otis Worldwide by 264.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock worth $26,000 after buying an additional 196 shares during the period. Jamison Private Wealth Management Inc. lifted its stake 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 worth $28,000 after acquiring an additional 286 shares during the period. Cranbrook Wealth Management LLC grew its holdings in Otis Worldwide by 675.7% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Otis Worldwide during the 2nd quarter valued at about $29,000. Finally, LifeSteps Financial Inc. bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.2 %

Shares of OTIS stock opened at $104.56 on Friday. The company has a market cap of $42.28 billion, a PE ratio of 30.22 and a beta of 1.03. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $105.39. The business’s fifty day simple moving average is $95.30 and its 200-day simple moving average is $96.29.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Otis Worldwide had a negative return on equity of 31.65% and a net margin of 10.35%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. On average, equities analysts forecast that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.09%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Morgan Stanley began coverage on Otis Worldwide in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 price target on shares of Otis Worldwide in a research report on Thursday, September 19th. Finally, Barclays raised their price objective on Otis Worldwide from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average price target of $100.86.

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.