MEMBERS Trust Co acquired a new stake in Otis Worldwide Co. (NASDAQ:OTIS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,275 shares of the company’s stock, valued at approximately $267,000.
Several other large investors have also recently modified their holdings of the company. Benedict Financial Advisors Inc. purchased a new stake in Otis Worldwide during the second quarter valued at $467,000. Toronto Dominion Bank purchased a new stake in Otis Worldwide in the second quarter worth about $28,209,000. IFM Investors Pty Ltd raised its stake in shares of Otis Worldwide by 13.5% in the third quarter. IFM Investors Pty Ltd now owns 34,527 shares of the company’s stock worth $2,155,000 after buying an additional 4,102 shares during the period. Blair William & Co. IL purchased a new position in shares of Otis Worldwide during the 2nd quarter valued at about $3,025,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Otis Worldwide in the 2nd quarter worth approximately $301,000.
Shares of NASDAQ:OTIS traded down $0.21 during midday trading on Tuesday, hitting $67.18. The stock had a trading volume of 8,538 shares, compared to its average volume of 3,364,670. Otis Worldwide Co. has a 1 year low of $38.00 and a 1 year high of $67.64. The stock has a 50 day moving average price of $63.70 and a two-hundred day moving average price of $59.47. The company has a market capitalization of $29.19 billion and a PE ratio of 35.10.
Otis Worldwide (NASDAQ:OTIS) last announced its quarterly earnings data on Saturday, October 31st. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.13. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.20 billion. The business’s quarterly revenue was down 1.4% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be issued a $0.20 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. Otis Worldwide’s dividend payout ratio is currently 41.67%.
OTIS has been the subject of a number of analyst reports. BidaskClub raised shares of Otis Worldwide from a “sell” rating to a “hold” rating in a research note on Friday, September 25th. Wolfe Research upgraded Otis Worldwide from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 24th. Credit Suisse Group upped their price target on Otis Worldwide from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 27th. Zacks Investment Research cut shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Wednesday, November 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Otis Worldwide from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.13.
Otis Worldwide Company Profile
Otis Worldwide Corporation manufactures, installs, and services elevators and escalators worldwide. The company operates through 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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