Nomura Holdings Inc. Purchases Shares of 13,162 Otis Worldwide Co. (NYSE:OTIS)

Nomura Holdings Inc. acquired a new position in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,162 shares of the company's stock, valued at approximately $1,219,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. PineStone Asset Management Inc. boosted its position in shares of Otis Worldwide by 4.2% in the 4th quarter. PineStone Asset Management Inc. now owns 3,002,419 shares of the company's stock valued at $278,054,000 after purchasing an additional 121,322 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Otis Worldwide by 41.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,076,031 shares of the company's stock valued at $2,918,223,000 after purchasing an additional 8,161,946 shares during the period. SVB Wealth LLC acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at about $337,000. Clarkston Capital Partners LLC acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at about $8,743,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Otis Worldwide by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,304,482 shares of the company's stock valued at $213,418,000 after purchasing an additional 67,937 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OTIS has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Otis Worldwide from $105.00 to $95.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Barclays decreased their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Otis Worldwide from $88.00 to $101.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Royal Bank of Canada decreased their price objective on Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $100.71.

Otis Worldwide Stock Down 0.5%

NYSE OTIS traded down $0.44 during mid-day trading on Friday, hitting $96.74. The stock had a trading volume of 2,286,762 shares, compared to its average volume of 2,333,170. Otis Worldwide Co. has a 52-week low of $89.70 and a 52-week high of $106.83. The company has a market cap of $38.18 billion, a price-to-earnings ratio of 23.83 and a beta of 1.01. The company has a 50 day simple moving average of $97.72 and a 200 day simple moving average of $97.54.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period last year, the business posted $0.88 EPS. Otis Worldwide's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Otis Worldwide Co. will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from Otis Worldwide's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, May 16th. Otis Worldwide's payout ratio is 44.09%.

Insider Transactions at Otis Worldwide

In other news, insider Montlivault Stephane De sold 6,660 shares of the business's stock in a transaction 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 directly owns 63,931 shares of the company's stock, valued at $6,731,934.30. The trade was a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.23% of the company's stock.

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.