Otis Worldwide Corporation $OTIS Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its position in Otis Worldwide Corporation (NYSE:OTIS) by 12,345.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 499,177 shares of the company’s stock after purchasing an additional 495,166 shares during the period. SG Americas Securities LLC owned 0.13% of Otis Worldwide worth $43,603,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Allied Investment Advisors LLC raised its position in Otis Worldwide by 6.0% in the 3rd quarter. Allied Investment Advisors LLC now owns 118,761 shares of the company’s stock valued at $10,858,000 after purchasing an additional 6,770 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Otis Worldwide by 54.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,890,482 shares of the company’s stock worth $264,277,000 after purchasing an additional 1,013,876 shares during the last quarter. Pinnacle Financial Partners Inc. grew its position in Otis Worldwide by 19.6% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company’s stock worth $7,085,000 after purchasing an additional 12,721 shares during the last quarter. Natixis increased its stake in Otis Worldwide by 226.4% in the second quarter. Natixis now owns 84,026 shares of the company’s stock valued at $8,320,000 after purchasing an additional 58,286 shares during the period. Finally, Carnegie Investment Counsel increased its stake in Otis Worldwide by 19.9% in the third quarter. Carnegie Investment Counsel now owns 234,368 shares of the company’s stock valued at $21,428,000 after purchasing an additional 38,931 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $77.87 on Wednesday. Otis Worldwide Corporation has a 1 year low of $77.80 and a 1 year high of $105.95. The stock has a fifty day moving average price of $88.28 and a two-hundred day moving average price of $89.00. The stock has a market capitalization of $30.27 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 2.38 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, January 28th. The company reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.88 billion. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. On average, analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, February 13th. Otis Worldwide’s dividend payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OTIS. JPMorgan Chase & Co. downgraded shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price for the company. in a research note on Friday, January 30th. BNP Paribas Exane upgraded Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. Wall Street Zen cut Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Wells Fargo & Company lowered their target price on Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.44.

Insider Activity at Otis Worldwide

In other Otis Worldwide news, CEO Judith Fran Marks sold 56,107 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $90.89, for a total value of $5,099,565.23. Following the completion of the transaction, the chief executive officer directly owned 231,072 shares of the company’s stock, valued at approximately $21,002,134.08. This trade represents a 19.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Montlivault Stephane De sold 47,944 shares of Otis Worldwide stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total transaction of $4,422,834.00. Following the sale, the insider owned 29,176 shares of the company’s stock, valued at approximately $2,691,486. The trade was a 62.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 158,013 shares of company stock valued at $14,337,635. 0.23% of the stock is currently owned by corporate insiders.

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.