International Assets Investment Management LLC Increases Position in Otis Worldwide Co. (NYSE:OTIS)

International Assets Investment Management LLC lifted its holdings in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 13,638.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,667 shares of the company's stock after buying an additional 150,563 shares during the quarter. International Assets Investment Management LLC's holdings in Otis Worldwide were worth $13,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OTIS. BSW Wealth Partners purchased a new stake in Otis Worldwide during the 4th quarter valued at about $206,000. Meeder Advisory Services Inc. grew its position in Otis Worldwide by 10.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 5,041 shares of the company's stock valued at $451,000 after purchasing an additional 494 shares during the last quarter. Sabal Trust CO purchased a new stake in Otis Worldwide during the 4th quarter valued at about $206,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Otis Worldwide by 20.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 146,545 shares of the company's stock valued at $13,052,000 after acquiring an additional 24,748 shares during the last quarter. Finally, Smith Salley & Associates purchased a new stake in shares of Otis Worldwide during the 4th quarter valued at about $1,113,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Argus raised shares of Otis Worldwide from a "hold" rating to a "buy" rating and set a $102.00 price target on the stock in a report on Thursday, February 22nd. Royal Bank of Canada restated an "outperform" rating and set a $100.00 target price on shares of Otis Worldwide in a research note on Monday, February 5th. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $102.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 25th. Barclays raised their target price on shares of Otis Worldwide from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Otis Worldwide from $104.00 to $105.00 and gave the stock a "neutral" rating in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $96.86.

Otis Worldwide Stock Up 1.1 %

Otis Worldwide stock traded up $0.97 during midday trading on Monday, reaching $93.09. 1,301,584 shares of the stock traded hands, compared to its average volume of 2,019,861. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $100.35. The stock's fifty day moving average is $96.44 and its 200-day moving average is $89.89. The stock has a market cap of $37.64 billion, a P/E ratio of 26.90 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.01. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.44 billion. On average, equities analysts predict that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.39 dividend. This is an increase from Otis Worldwide's previous quarterly dividend of $0.34. The ex-dividend date is Thursday, May 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.68%. Otis Worldwide's dividend payout ratio (DPR) is presently 39.31%.

Insider Buying and Selling

In other news, insider Montlivault Stephane De sold 18,393 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total transaction of $1,675,602.30. Following the transaction, the insider now owns 67,274 shares of the company's stock, valued at approximately $6,128,661.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Otis Worldwide news, CEO Judith Fran Marks sold 37,312 shares of the company's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the transaction, the chief executive officer now owns 192,319 shares of the company's stock, valued at approximately $17,660,653.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Montlivault Stephane De sold 18,393 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the transaction, the insider now directly owns 67,274 shares in the company, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

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.