Everett Harris & Co. CA purchased a new position in Otis Worldwide (NASDAQ:OTIS) during the second quarter, Holdings Channel.com reports. The firm purchased 7,924 shares of the company’s stock, valued at approximately $451,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Core Alternative Capital purchased a new position in shares of Otis Worldwide in the second quarter worth approximately $25,000. Independence Bank of Kentucky acquired a new stake in Otis Worldwide during the 2nd quarter worth about $26,000. Sowa Financial Group Inc. purchased a new position in Otis Worldwide during the 2nd quarter valued at about $26,000. Truehand Inc acquired a new position in shares of Otis Worldwide in the 2nd quarter valued at about $27,000. Finally, Gradient Investments LLC purchased a new stake in shares of Otis Worldwide in the second quarter worth approximately $27,000.

Shares of OTIS stock opened at $62.75 on Friday. The firm has a 50 day moving average of $57.45. Otis Worldwide has a twelve month low of $38.00 and a twelve month high of $64.52. The company has a market cap of $27.17 billion and a P/E ratio of 32.68.

Otis Worldwide (NASDAQ:OTIS) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.44 by $0.12. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.92 billion. The company’s revenue was down 9.6% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%. Otis Worldwide’s payout ratio is presently 41.67%.

Several research analysts have weighed in on the stock. HSBC began coverage on shares of Otis Worldwide in a research note on Monday, June 29th. They issued a “reduce” rating and a $44.00 price objective on the stock. Barclays reiterated a “hold” rating on shares of Otis Worldwide in a report on Friday, May 8th. Cowen reissued a “buy” rating and set a $64.00 price objective on shares of Otis Worldwide in a research report on Monday, June 15th. Credit Suisse Group upped their target price on Otis Worldwide from $55.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Atlantic Securities assumed coverage on Otis Worldwide in a research note on Tuesday, April 14th. They set an “overweight” rating for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $58.63.

In other Otis Worldwide news, insider Montlivault Stephane De sold 10,454 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $51.81, for a total transaction of $541,621.74. Following the completion of the transaction, the insider now owns 1,403 shares of the company’s stock, valued at approximately $72,689.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

About Otis Worldwide

There is no company description available for Otis Worldwide Corp.

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Institutional Ownership by Quarter for Otis Worldwide (NASDAQ:OTIS)

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