Tompkins Financial Corp Acquires New Stake in Otis Worldwide (NASDAQ:OTIS)
Tompkins Financial Corp acquired a new position in Otis Worldwide (NASDAQ:OTIS) during the second quarter, Holdings Channel reports. The firm acquired 807 shares of the company’s stock, valued at approximately $46,000.
Other hedge funds have also recently made changes to their positions in the company. Core Alternative Capital acquired a new stake in Otis Worldwide during the second quarter worth about $25,000. Independence Bank of Kentucky bought a new position in shares of Otis Worldwide during the 2nd quarter worth approximately $26,000. Sowa Financial Group Inc. acquired a new stake in Otis Worldwide in the 2nd quarter valued at $26,000. Truehand Inc bought a new position in Otis Worldwide during the 2nd quarter valued at about $27,000. Finally, Gradient Investments LLC bought a new position in Otis Worldwide during the 2nd quarter valued at about $27,000.
In other Otis Worldwide news, insider Montlivault Stephane De sold 10,454 shares of Otis Worldwide stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $51.81, for a total value of $541,621.74. Following the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website.
Otis Worldwide (NASDAQ:OTIS) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.12. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.92 billion. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year.
The business 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Thursday, August 20th. Otis Worldwide’s payout ratio is presently 41.67%.
OTIS has been the topic of several research analyst reports. Barclays reaffirmed a “hold” rating on shares of Otis Worldwide in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their target price on Otis Worldwide from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Atlantic Securities assumed coverage on Otis Worldwide in a report on Tuesday, April 14th. They issued an “overweight” rating for the company. Wolfe Research began coverage on shares of Otis Worldwide in a report on Friday, April 3rd. They set a “market perform” rating on the stock. Finally, William Blair began coverage on shares of Otis Worldwide in a report on Friday, May 8th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $58.63.
About Otis Worldwide
There is no company description available for Otis Worldwide Corp.
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