Judith Fran Marks Sells 56,107 Shares of Otis Worldwide (NYSE:OTIS) Stock

Otis Worldwide Corporation (NYSE:OTIS) CEO Judith Fran Marks sold 56,107 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the completion of the transaction, the chief executive officer directly owned 231,072 shares in the company, valued at approximately $21,002,134.08. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Judith Fran Marks also recently made the following trade(s):

• On Wednesday, February 4th, Judith Fran Marks sold 46,780 shares of Otis Worldwide stock. The shares were sold at an average price of $89.57, for a total transaction of $4,190,084.60.

Otis Worldwide Price Performance

Shares of OTIS stock traded up $0.83 during trading on Thursday, hitting $91.20. 4,820,907 shares of the stock traded hands, compared to its average volume of 3,633,805. The firm has a market capitalization of $35.54 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. Otis Worldwide Corporation has a 52-week low of $84.00 and a 52-week high of $106.83. The firm’s fifty day moving average price is $88.44 and its 200-day moving average price is $89.02.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, January 28th. The company reported $1.03 earnings per share for the quarter, meeting the consensus estimate of $1.03. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, February 13th. Otis Worldwide’s dividend payout ratio (DPR) is 48.00%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. Barclays upped their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. cut Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price for the company. in a research report on Friday, January 30th. Wolfe Research set a $109.00 price target on Otis Worldwide and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, New Street Research set a $98.00 target price on shares of Otis Worldwide in a research report on Friday, January 30th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and an average price target of $101.44.

Hedge Funds Weigh In On Otis Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of OTIS. Root Financial Partners LLC acquired a new position in shares of Otis Worldwide during the 3rd quarter worth approximately $26,000. Camelot Portfolios LLC purchased a new position in Otis Worldwide during the fourth quarter worth $26,000. Stance Capital LLC acquired a new position in shares of Otis Worldwide in the third quarter worth $27,000. Chilton Capital Management LLC purchased a new stake in shares of Otis Worldwide in the second quarter valued at $31,000. Finally, Nemes Rush Group LLC boosted its stake in shares of Otis Worldwide by 75.4% during the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock valued at $31,000 after acquiring an additional 135 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

About Otis Worldwide

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.