AustralianSuper Pty Ltd Takes $900,000 Position in Otis Worldwide Corporation (NYSE:OTIS)

AustralianSuper Pty Ltd acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,718 shares of the company's stock, valued at approximately $900,000.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in Otis Worldwide in the 1st quarter valued at about $25,000. Transce3nd LLC acquired a new stake in Otis Worldwide in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Otis Worldwide during the fourth quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new stake in Otis Worldwide during the first quarter worth approximately $31,000. Finally, Orion Capital Management LLC acquired a new stake in Otis Worldwide during the fourth quarter worth approximately $35,000. Institutional investors own 88.03% of the company's stock.

Analyst Ratings Changes

OTIS has been the topic of several research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Otis Worldwide in a report on Monday, July 14th. They set a "hold" rating and a $109.00 price objective on the stock. Barclays upped their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. Morgan Stanley upped their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reduced their target price on shares of Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. upgraded shares of Otis Worldwide from a "neutral" rating to an "overweight" rating and upped their price target for the company from $101.00 to $109.00 in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of "Hold" and an average price target of $104.63.

Otis Worldwide Stock Performance

OTIS stock traded down $10.49 during trading on Wednesday, hitting $90.50. The stock had a trading volume of 7,268,696 shares, compared to its average volume of 2,341,276. Otis Worldwide Corporation has a 1-year low of $87.05 and a 1-year high of $106.83. The company's 50 day moving average price is $97.38 and its two-hundred day moving average price is $97.28. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 2.66 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. Otis Worldwide had a net margin of 10.83% and a negative return on equity of 31.72%. The company's quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. As a group, sell-side analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Profile

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in 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.