National Pension Service Increases Position in Otis Worldwide Co. (NYSE:OTIS)

National Pension Service grew its holdings in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,052,750 shares of the company's stock after acquiring an additional 32,445 shares during the period. National Pension Service owned about 0.26% of Otis Worldwide worth $94,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in OTIS. Stratos Wealth Partners LTD. lifted its position in shares of Otis Worldwide by 13.1% in the third quarter. Stratos Wealth Partners LTD. now owns 6,759 shares of the company's stock valued at $543,000 after acquiring an additional 785 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Otis Worldwide by 1.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,433 shares of the company's stock worth $8,949,000 after buying an additional 1,589 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Otis Worldwide by 2.9% in the third quarter. Mackenzie Financial Corp now owns 35,204 shares of the company's stock worth $2,795,000 after buying an additional 1,000 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Otis Worldwide by 8.1% in the third quarter. Brighton Jones LLC now owns 2,662 shares of the company's stock worth $214,000 after buying an additional 200 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Otis Worldwide by 4.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,395 shares of the company's stock worth $5,412,000 after buying an additional 2,802 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Peiming Zheng sold 30,364 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.69, for a total value of $2,844,803.16. Following the transaction, the executive vice president now owns 15,570 shares of the company's stock, valued at $1,458,753.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Otis Worldwide news, EVP Peiming Zheng sold 30,364 shares of the company's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.69, for a total transaction of $2,844,803.16. Following the completion of the sale, the executive vice president now owns 15,570 shares in the company, valued at $1,458,753.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Montlivault Stephane De sold 18,393 shares of the company's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the sale, the insider now owns 67,274 shares of the company's stock, valued at approximately $6,128,661.40. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Otis Worldwide Price Performance

Shares of OTIS traded up $1.64 during mid-day trading on Thursday, reaching $96.16. 1,800,342 shares of the company's stock traded hands, compared to its average volume of 2,009,988. The stock has a market cap of $38.88 billion, a P/E ratio of 27.32 and a beta of 1.03. The stock's 50-day moving average is $96.42 and its two-hundred day moving average is $90.14. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $100.35.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released 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. The firm had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.44 billion. Otis Worldwide had a negative return on equity of 31.02% and a net margin of 9.99%. Research analysts predict that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.56 annualized dividend and a yield of 1.62%. This is a boost from Otis Worldwide's previous quarterly dividend of $0.34. Otis Worldwide's dividend payout ratio is 39.31%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on Otis Worldwide from $102.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 25th. Melius began coverage on Otis Worldwide in a research note on Tuesday, April 2nd. They set a "hold" rating on the stock. Argus raised Otis Worldwide from a "hold" rating to a "buy" rating and set a $102.00 price objective on the stock in a research note on Thursday, February 22nd. Barclays boosted their price objective on 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, UBS Group boosted their price objective on Otis Worldwide from $87.00 to $95.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Otis Worldwide currently has an average rating of "Hold" and an average target price of $96.86.

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.