Free Trial

Mizuho Securities USA LLC Sells 6,111 Shares of Otis Worldwide Corporation (NYSE:OTIS)

Otis Worldwide logo with Industrials background

Key Points

  • Mizuho Securities USA LLC reduced its stake in Otis Worldwide Corporation by 16.1%, selling 6,111 shares during the first quarter, leaving it with 31,749 shares valued at approximately $3.28 million.
  • Otis Worldwide recently reported a quarterly earnings per share of $1.05, surpassing estimates, although its revenue of $3.60 billion fell short of expectations of $3.73 billion.
  • The company announced a quarterly dividend of $0.42 per share, indicating a dividend yield of 1.9% and a payout ratio of 44.44%.
  • Need better tools to track Otis Worldwide? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Mizuho Securities USA LLC cut its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 16.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,749 shares of the company's stock after selling 6,111 shares during the quarter. Mizuho Securities USA LLC's holdings in Otis Worldwide were worth $3,276,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Transce3nd LLC bought a new position in shares of Otis Worldwide during the 4th quarter valued at about $25,000. NBC Securities Inc. bought a new position in Otis Worldwide during the 1st quarter worth approximately $25,000. Wayfinding Financial LLC bought a new position in Otis Worldwide during the 1st quarter worth approximately $31,000. Cheviot Value Management LLC bought a new position in Otis Worldwide during the 1st quarter worth approximately $31,000. Finally, Orion Capital Management LLC bought a new position in Otis Worldwide during the 4th quarter worth approximately $35,000. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Performance

NYSE OTIS opened at $87.44 on Monday. Otis Worldwide Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $106.83. The stock has a 50 day simple moving average of $94.92 and a two-hundred day simple moving average of $96.83. The stock has a market cap of $34.32 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%. The business's revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 15th. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Otis Worldwide's payout ratio is currently 44.44%.

Analyst Ratings Changes

Several research firms recently issued reports on OTIS. JPMorgan Chase & Co. reduced their price target on Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Wells Fargo & Company reduced their price target on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft began coverage on Otis Worldwide in a research report on Monday, July 14th. They set a "hold" rating and a $109.00 price target on the stock. Morgan Stanley raised their price target on Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Barclays dropped their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Otis Worldwide presently has an average rating of "Hold" and a consensus price target of $102.50.

View Our Latest Report on Otis Worldwide

About Otis Worldwide

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding OTIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otis Worldwide Corporation (NYSE:OTIS - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Otis Worldwide Right Now?

Before you consider Otis Worldwide, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Otis Worldwide wasn't on the list.

While Otis Worldwide currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Growth Stocks That Could Pop Before Summer Ends
3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines