Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 29.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,141 shares of the company’s stock after selling 9,949 shares during the period. Crossmark Global Holdings Inc.’s holdings in Otis Worldwide were worth $2,324,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jamison Private Wealth Management Inc. boosted its stake in shares of Otis Worldwide by 5,720.0% during the second quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock valued at $28,000 after acquiring an additional 286 shares during the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of Otis Worldwide during the first quarter valued at $31,000. Versant Capital Management Inc boosted its stake in shares of Otis Worldwide by 125.0% during the second quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock valued at $36,000 after acquiring an additional 205 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Otis Worldwide during the fourth quarter valued at $35,000. Finally, GPS Wealth Strategies Group LLC boosted its stake in Otis Worldwide by 1,314.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 396 shares of the company’s stock worth $38,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on OTIS shares. Wells Fargo & Company decreased their price target on 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. Argus raised their price target on Otis Worldwide from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Six 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 presently has an average rating of “Hold” and a consensus target price of $98.83.

Otis Worldwide Trading Up 0.9 %

OTIS stock traded up $0.86 during midday trading on Friday, hitting $94.69. 1,740,456 shares of the company’s stock were exchanged, compared to its average volume of 2,071,710. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $100.84. The firm has a 50 day moving average price of $95.12 and a 200-day moving average price of $95.80. The stock has a market capitalization of $38.29 billion, a price-to-earnings ratio of 27.37 and a beta of 1.03.

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

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.65%. Otis Worldwide’s dividend payout ratio (DPR) is presently 45.09%.

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.