Carmichael Hill & Associates Inc. lessened its position in Otis Worldwide Co. (NYSE:OTIS – Free Report) by 11.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,002 shares of the company’s stock after selling 253 shares during the period. Carmichael Hill & Associates Inc.’s holdings in Otis Worldwide were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Otis Worldwide during the third quarter worth approximately $25,000. Meeder Asset Management Inc. boosted its holdings in 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 purchasing an additional 196 shares during the period. Jamison Private Wealth Management Inc. boosted its holdings in 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 purchasing an additional 286 shares during the period. Cranbrook Wealth Management LLC increased its holdings in shares of Otis Worldwide by 675.7% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Otis Worldwide during the 3rd quarter worth about $28,000. Institutional investors own 88.03% of the company’s stock.
Otis Worldwide Stock Performance
Shares of NYSE:OTIS opened at $99.44 on Friday. The company’s fifty day moving average is $99.11 and its 200-day moving average is $96.90. Otis Worldwide Co. has a 52 week low of $77.51 and a 52 week high of $106.33. The company has a market capitalization of $39.83 billion, a PE ratio of 24.80 and a beta of 1.04.
Otis Worldwide Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 1.57%. Otis Worldwide’s dividend payout ratio is 38.90%.
Analyst Ratings Changes
OTIS has been the topic of several research reports. Wells Fargo & Company lowered their price target on Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $110.00 target price on shares of Otis Worldwide in a research note on Thursday, September 19th. Morgan Stanley started coverage on shares of Otis Worldwide in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target on the stock. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Finally, Barclays reduced their price objective on shares of Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a report on Thursday. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.00.
View Our Latest Report on OTIS
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.
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