ANTIPODES PARTNERS Ltd Purchases 9,675 Shares of Otis Worldwide Corporation (NYSE:OTIS)

ANTIPODES PARTNERS Ltd grew its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,354 shares of the company's stock after acquiring an additional 9,675 shares during the quarter. ANTIPODES PARTNERS Ltd's holdings in Otis Worldwide were worth $7,364,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Transce3nd LLC acquired a new stake in Otis Worldwide in the fourth quarter worth about $25,000. NBC Securities Inc. acquired a new stake in Otis Worldwide in the first quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Otis Worldwide in the fourth quarter worth about $28,000. Wayfinding Financial LLC acquired a new stake in Otis Worldwide in the first quarter worth about $31,000. Finally, Orion Capital Management LLC acquired a new stake in Otis Worldwide in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Price Performance

NYSE OTIS traded up $0.57 on Friday, hitting $89.77. 4,084,243 shares of the company were exchanged, compared to its average volume of 2,628,104. The company's 50 day moving average price is $96.96 and its 200-day moving average price is $97.25. The firm has a market capitalization of $35.43 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.44 and a beta of 0.98. Otis Worldwide Corporation has a twelve month low of $86.00 and a twelve month high of $106.83.

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

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, August 15th. This represents a $1.68 annualized dividend and a yield of 1.87%. Otis Worldwide's dividend payout ratio (DPR) is presently 44.44%.

Analysts Set New Price Targets

Several brokerages have commented on OTIS. Wolfe Research upgraded shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Otis Worldwide in a research report on Monday, July 14th. They issued a "hold" rating and a $109.00 price target on the stock. Royal Bank Of Canada dropped their price target on shares of Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Barclays dropped their price target on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $102.50.

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.