IFM Investors Pty Ltd lifted its position in shares of Otis Worldwide (NASDAQ:OTIS) by 13.5% during the third quarter, HoldingsChannel reports. The firm owned 34,527 shares of the company’s stock after purchasing an additional 4,102 shares during the quarter. IFM Investors Pty Ltd’s holdings in Otis Worldwide were worth $2,155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baystate Wealth Management LLC raised its holdings in Otis Worldwide by 17.6% in the third quarter. Baystate Wealth Management LLC now owns 1,117 shares of the company’s stock valued at $70,000 after acquiring an additional 167 shares in the last quarter. Triangle Securities Wealth Management grew its position in shares of Otis Worldwide by 1.9% during the third quarter. Triangle Securities Wealth Management now owns 19,263 shares of the company’s stock worth $1,202,000 after acquiring an additional 365 shares during the last quarter. Core Alternative Capital bought a new position in shares of Otis Worldwide during the second quarter worth about $25,000. Independence Bank of Kentucky bought a new position in Otis Worldwide in the 2nd quarter valued at about $26,000. Finally, Sowa Financial Group Inc. bought a new position in shares of Otis Worldwide during the 2nd quarter valued at about $26,000.

Shares of NASDAQ OTIS traded down $0.17 during mid-day trading on Friday, hitting $65.03. The company had a trading volume of 1,047,539 shares, compared to its average volume of 3,564,779. Otis Worldwide has a 1 year low of $38.00 and a 1 year high of $66.00. The business’s 50-day simple moving average is $62.47. The firm has a market capitalization of $28.16 billion and a P/E ratio of 33.87.

Otis Worldwide (NASDAQ:OTIS) last released its earnings results on Tuesday, July 28th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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. Otis Worldwide’s revenue was down 9.6% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 19th. Otis Worldwide’s dividend payout ratio (DPR) is presently 41.67%.

A number of research firms have recently issued reports on OTIS. JPMorgan Chase & Co. increased their price target 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. HSBC began coverage on Otis Worldwide in a report on Monday, June 29th. They issued a “reduce” rating and a $44.00 price objective on the stock. Wolfe Research upgraded Otis Worldwide from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 24th. Zacks Investment Research upgraded Otis Worldwide from a “sell” rating to a “hold” rating and set a $71.00 price target on the stock in a report on Tuesday, August 4th. Finally, Credit Suisse Group increased their price target on Otis Worldwide from $55.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $62.63.

Otis Worldwide Company Profile

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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