UMB Bank n.a. Has $498,000 Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)

UMB Bank n.a. decreased its holdings in Otis Worldwide Co. (NYSE:OTIS) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,792 shares of the company’s stock after selling 299 shares during the quarter. UMB Bank n.a.’s holdings in Otis Worldwide were worth $498,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake 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 valued at $26,000 after buying an additional 196 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of Otis Worldwide by 675.7% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in shares of Otis Worldwide by 5,720.0% in the 2nd 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 in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Otis Worldwide in the 2nd quarter valued at $29,000. Finally, Versant Capital Management Inc raised its stake in shares of Otis Worldwide by 125.0% in the 2nd quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock valued at $36,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Ratings Changes

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

Otis Worldwide Stock Up 1.0 %

Shares of NYSE:OTIS opened at $104.03 on Friday. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $105.39. The company’s 50-day moving average price is $96.21 and its two-hundred day moving average price is $96.40. The firm has a market cap of $41.67 billion, a P/E ratio of 29.06 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities analysts predict that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Friday, August 16th. Otis Worldwide’s dividend payout ratio (DPR) is presently 43.58%.

About Otis Worldwide

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.