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

Janus Henderson Group PLC lifted its holdings in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,485 shares of the company's stock after buying an additional 4,674 shares during the quarter. Janus Henderson Group PLC's holdings in Otis Worldwide were worth $6,527,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OTIS. Focus Partners Wealth increased its stake in shares of Otis Worldwide by 51.0% in the 4th quarter. Focus Partners Wealth now owns 34,386 shares of the company's stock worth $3,184,000 after acquiring an additional 11,615 shares during the last quarter. Foyston Gordon & Payne Inc increased its stake in shares of Otis Worldwide by 0.3% in the 4th quarter. Foyston Gordon & Payne Inc now owns 56,094 shares of the company's stock worth $5,195,000 after acquiring an additional 156 shares during the last quarter. Ethic Inc. grew its holdings in shares of Otis Worldwide by 3.7% during the 4th quarter. Ethic Inc. now owns 73,861 shares of the company's stock worth $6,840,000 after purchasing an additional 2,622 shares during the period. Ewing Morris & Co. Investment Partners Ltd. purchased a new position in shares of Otis Worldwide during the 4th quarter worth $754,000. Finally, Fiduciary Trust Co grew its holdings in shares of Otis Worldwide by 1.8% during the 4th quarter. Fiduciary Trust Co now owns 40,267 shares of the company's stock worth $3,729,000 after purchasing an additional 719 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, insider Montlivault Stephane De sold 6,660 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $105.30, for a total transaction of $701,298.00. Following the sale, the insider now directly owns 63,931 shares in the company, valued at approximately $6,731,934.30. This represents a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.

Otis Worldwide Stock Performance

Shares of OTIS traded down $0.44 during midday trading on Friday, hitting $96.74. The company had a trading volume of 2,286,762 shares, compared to its average volume of 2,329,220. Otis Worldwide Co. has a 1 year low of $89.70 and a 1 year high of $106.83. The firm has a market capitalization of $38.18 billion, a P/E ratio of 23.83 and a beta of 1.01. The company's 50-day simple moving average is $97.72 and its 200-day simple moving average is $97.56.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.01. Otis Worldwide had a net margin of 11.53% and a negative return on equity of 31.76%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The business's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts predict that Otis Worldwide Co. will post 4.04 earnings per share 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. Investors of record on Friday, May 16th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Otis Worldwide's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, May 16th. Otis Worldwide's dividend payout ratio is presently 44.09%.

About Otis Worldwide

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.