Czech National Bank Has $9.40 Million Position in Otis Worldwide Co. (NYSE:OTIS)

Czech National Bank lifted its position in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,074 shares of the company's stock after buying an additional 4,462 shares during the quarter. Czech National Bank's holdings in Otis Worldwide were worth $9,399,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Resonant Capital Advisors LLC lifted its stake in Otis Worldwide by 3.1% in the fourth quarter. Resonant Capital Advisors LLC now owns 3,455 shares of the company's stock valued at $320,000 after acquiring an additional 105 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Otis Worldwide by 4.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company's stock valued at $249,000 after purchasing an additional 109 shares in the last quarter. Montis Financial LLC lifted its stake in shares of Otis Worldwide by 5.2% in the 4th quarter. Montis Financial LLC now owns 2,216 shares of the company's stock valued at $205,000 after purchasing an additional 110 shares during the last quarter. AlTi Global Inc. boosted its holdings in Otis Worldwide by 4.9% in the fourth quarter. AlTi Global Inc. now owns 2,404 shares of the company's stock worth $223,000 after purchasing an additional 113 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in Otis Worldwide by 1.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 6,945 shares of the company's stock worth $643,000 after buying an additional 114 shares during the last quarter. Institutional investors own 88.03% of the company's stock.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, insider Montlivault Stephane De sold 6,660 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the transaction, the insider now owns 63,931 shares of the company's stock, valued at $6,731,934.30. This represents a 9.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on OTIS. JPMorgan Chase & Co. raised their target price on Otis Worldwide from $88.00 to $101.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays cut their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada reduced their target price on Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered their price target on Otis Worldwide from $105.00 to $95.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of "Hold" and an average target price of $100.71.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock traded up $0.43 during trading on Wednesday, reaching $95.32. The company's stock had a trading volume of 1,496,376 shares, compared to its average volume of 2,314,985. The business's fifty day moving average price is $96.81 and its 200-day moving average price is $97.31. Otis Worldwide Co. has a one year low of $89.70 and a one year high of $106.83. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 23.48 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.01. Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Otis Worldwide Co. will post 4.04 EPS for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $0.42 per share. This is a boost from Otis Worldwide's previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, May 16th. Otis Worldwide's dividend payout ratio is presently 44.09%.

Otis Worldwide Company 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.