Janus Henderson Group PLC Increases Stake in Otis Worldwide Co. (NYSE:OTIS)

Janus Henderson Group PLC boosted its holdings in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,485 shares of the company's stock after acquiring an additional 4,674 shares during the quarter. Janus Henderson Group PLC's holdings in Otis Worldwide were worth $6,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in 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 buying an additional 8,161,946 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of Otis Worldwide by 38.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 2,780 shares of the company's stock valued at $257,000 after purchasing an additional 778 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Otis Worldwide by 58.4% during the fourth quarter. Park Avenue Securities LLC now owns 22,868 shares of the company's stock valued at $2,118,000 after purchasing an additional 8,433 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Otis Worldwide by 45.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 718 shares of the company's stock valued at $67,000 after purchasing an additional 226 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Otis Worldwide in the 4th quarter worth approximately $3,957,000. 88.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on OTIS. Wells Fargo & Company reduced their price target on shares of 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. Royal Bank of Canada decreased their price target on shares of Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. upped their price target on Otis Worldwide from $88.00 to $101.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Barclays dropped their price objective on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $100.71.

Otis Worldwide Trading Down 0.4%

Shares of Otis Worldwide stock traded down $0.36 during trading on Tuesday, hitting $98.18. The stock had a trading volume of 2,410,309 shares, compared to its average volume of 2,327,580. Otis Worldwide Co. has a 12 month low of $89.70 and a 12 month high of $106.83. The firm has a market cap of $38.75 billion, a price-to-earnings ratio of 24.18 and a beta of 1.01. The business's 50-day moving average is $97.96 and its 200 day moving average is $97.59.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.92 EPS for the quarter, topping 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 business had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm's revenue was down 2.5% on a year-over-year basis. As a group, equities analysts expect 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 $0.42 dividend. This is an increase from Otis Worldwide's previous quarterly dividend of $0.39. This represents a $1.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, May 16th. Otis Worldwide's dividend payout ratio (DPR) is currently 44.09%.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, insider Montlivault Stephane De sold 6,660 shares of Otis Worldwide stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $105.30, for a total transaction of $701,298.00. Following the completion of the sale, the insider now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by company insiders.

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.