Otis Worldwide Co. (NYSE:OTIS) Shares Purchased by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC grew its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 9,642.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,364 shares of the company’s stock after acquiring an additional 1,350 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Otis Worldwide were worth $131,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Jamison Private Wealth Management Inc. increased its position in Otis Worldwide by 5,720.0% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock worth $28,000 after purchasing an additional 286 shares in the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of Otis Worldwide in the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Otis Worldwide in the 4th quarter valued at $35,000. Accent Capital Management LLC acquired a new position in shares of Otis Worldwide during the 4th quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its position in Otis Worldwide by 125.0% during the 2nd quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock worth $36,000 after purchasing an additional 205 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS traded up $0.86 during trading on Friday, hitting $94.69. The company’s stock had a trading volume of 1,740,456 shares, compared to its average volume of 2,071,710. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $100.84. The stock’s 50-day moving average price is $95.10 and its two-hundred day moving average price is $95.82. The company has a market capitalization of $38.29 billion, a PE ratio of 27.37 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 31.65% and a net margin of 10.35%. Otis Worldwide’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. On average, equities analysts predict that Otis Worldwide Co. will post 3.88 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a $0.39 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Argus boosted their price objective on Otis Worldwide from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Wells Fargo & Company decreased their price target on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $98.83.

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.