Dimensional Fund Advisors LP lifted its stake in Otis Worldwide Co. (NYSE:OTIS – Free Report) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,523,091 shares of the company’s stock after acquiring an additional 101,955 shares during the period. Dimensional Fund Advisors LP owned 0.62% of Otis Worldwide worth $242,873,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Otis Worldwide by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 45,773,358 shares of the company’s stock worth $4,095,342,000 after acquiring an additional 5,913,933 shares during the period. PineStone Asset Management Inc. raised its holdings in shares of Otis Worldwide by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,464,131 shares of the company’s stock worth $429,717,000 after purchasing an additional 2,590,780 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Otis Worldwide by 12.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,247,918 shares of the company’s stock valued at $793,945,000 after purchasing an additional 907,972 shares during the last quarter. Sarasin & Partners LLP boosted its holdings in Otis Worldwide by 27.2% during the second quarter. Sarasin & Partners LLP now owns 4,135,271 shares of the company’s stock worth $398,061,000 after buying an additional 883,659 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Otis Worldwide by 2,782.3% in the second quarter. Brown Brothers Harriman & Co. now owns 815,179 shares of the company’s stock worth $78,469,000 after buying an additional 786,897 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.
Otis Worldwide Stock Down 2.2 %
Shares of Otis Worldwide stock opened at $93.99 on Thursday. The stock has a market cap of $38.00 billion, a PE ratio of 27.16 and a beta of 1.03. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $100.84. The business has a fifty day simple moving average of $94.38 and a 200-day simple moving average of $95.92.
Otis Worldwide Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a $0.39 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.56 dividend on an annualized basis and a yield of 1.66%. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.09%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Morgan Stanley began coverage on Otis Worldwide in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Wells Fargo & Company decreased their price target on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.57.
Read Our Latest Research Report on OTIS
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.
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