Steigerwald Gordon & Koch Inc. Has $14.55 Million Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Steigerwald Gordon & Koch Inc. grew its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 1.7% during the second quarter, HoldingsChannel.com reports. The firm owned 151,166 shares of the company’s stock after acquiring an additional 2,559 shares during the quarter. Otis Worldwide makes up about 1.8% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its 26th biggest holding. Steigerwald Gordon & Koch Inc.’s holdings in Otis Worldwide were worth $14,551,000 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. raised its stake in Otis Worldwide by 5,720.0% during the second quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock worth $28,000 after buying an additional 286 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Otis Worldwide in the second quarter valued at approximately $29,000. LifeSteps Financial Inc. purchased a new position in Otis Worldwide during the first quarter valued at approximately $31,000. Accent Capital Management LLC purchased a new position in Otis Worldwide in the 4th quarter worth approximately $36,000. Finally, Versant Capital Management Inc boosted 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 purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Morgan Stanley assumed coverage on shares of Otis Worldwide in a report on Friday. They set an “equal weight” rating and a $97.00 price target for the company. Finally, Argus upped their price target on shares of Otis Worldwide from $102.00 to $108.00 and gave the company a “buy” rating in a report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $98.57.

Otis Worldwide Trading Up 0.4 %

NYSE OTIS traded up $0.38 during trading on Tuesday, hitting $92.06. The company had a trading volume of 58,842 shares, compared to its average volume of 2,051,818. Otis Worldwide Co. has a one year low of $73.32 and a one year high of $100.84. The company has a market cap of $37.22 billion, a price-to-earnings ratio of 26.49 and a beta of 1.03. The company’s fifty day moving average is $94.78 and its 200-day moving average is $95.97.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm 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%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. As a group, equities analysts anticipate that Otis Worldwide Co. will post 3.88 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide’s dividend payout ratio (DPR) is 45.09%.

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.