Moody Lynn & Lieberson LLC Has $1.48 Million Position in Otis Worldwide Co. (NYSE:OTIS)

Moody Lynn & Lieberson LLC cut its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,258 shares of the company’s stock after selling 272 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Otis Worldwide were worth $1,482,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OTIS. Riverview Trust Co acquired a new position in shares of Otis Worldwide during the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. increased its holdings in shares of Otis Worldwide by 264.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock worth $26,000 after acquiring an additional 196 shares during the last quarter. Jamison Private Wealth Management Inc. increased its holdings in shares of 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 acquiring an additional 286 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in 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 purchasing an additional 250 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in Otis Worldwide in the 3rd quarter valued at $28,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $102.49 on Friday. The stock has a fifty day moving average price of $98.30 and a 200-day moving average price of $96.79. The company has a market cap of $41.05 billion, a price-to-earnings ratio of 28.63 and a beta of 1.03. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $106.33.

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

Wall Street Analysts Forecast Growth

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

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.