Nomura Holdings Inc. Purchases New Stake in Otis Worldwide Co. (NYSE:OTIS)

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

Other large investors have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in Otis Worldwide in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Otis Worldwide in the fourth quarter worth $28,000. Centricity Wealth Management LLC bought a new position in Otis Worldwide during the fourth quarter valued at about $33,000. Flagship Wealth Advisors LLC bought a new position in Otis Worldwide during the fourth quarter valued at about $34,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter valued at $34,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Montlivault Stephane De sold 6,660 shares of Otis Worldwide 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 sale, the insider now directly owns 63,931 shares of the company's stock, valued at approximately $6,731,934.30. This trade represents a 9.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

Otis Worldwide Stock Performance

Shares of OTIS opened at $98.85 on Monday. The stock has a fifty day moving average price of $98.02 and a two-hundred day moving average price of $97.60. 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 $39.01 billion, a price-to-earnings ratio of 24.35 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, research analysts predict that Otis Worldwide Co. will post 4.04 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $0.42 dividend. This is a boost from Otis Worldwide's previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 16th. Otis Worldwide's dividend payout ratio (DPR) is 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.

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