American Century Companies Inc. lowered its holdings in Otis Worldwide Co. (NYSE:OTIS – Free Report) by 14.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 623,176 shares of the company’s stock after selling 101,380 shares during the period. American Century Companies Inc. owned about 0.15% of Otis Worldwide worth $59,987,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nordea Investment Management AB lifted its holdings in Otis Worldwide by 19.6% during the 1st quarter. Nordea Investment Management AB now owns 463,190 shares of the company’s stock worth $46,138,000 after buying an additional 75,878 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Otis Worldwide by 173.7% during the 1st quarter. First Eagle Investment Management LLC now owns 20,048 shares of the company’s stock worth $1,990,000 after buying an additional 12,722 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Otis Worldwide by 29.5% during the 4th quarter. CIBC Asset Management Inc now owns 144,536 shares of the company’s stock worth $12,932,000 after buying an additional 32,886 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Otis Worldwide by 259.1% during the 1st quarter. Cetera Investment Advisers now owns 46,371 shares of the company’s stock worth $4,603,000 after buying an additional 33,457 shares during the last quarter. Finally, Cloverfields Capital Group LP lifted its holdings in Otis Worldwide by 212.2% during the 4th quarter. Cloverfields Capital Group LP now owns 91,737 shares of the company’s stock worth $8,208,000 after buying an additional 62,350 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Otis Worldwide Trading Up 1.6 %
Shares of Otis Worldwide stock opened at $94.18 on Monday. The business’s 50 day simple moving average is $94.49 and its 200-day simple moving average is $95.93. The stock has a market capitalization of $38.08 billion, a price-to-earnings ratio of 27.22 and a beta of 1.03. Otis Worldwide Co. has a twelve month low of $73.32 and a twelve month high of $100.84.
Otis Worldwide Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide’s dividend payout ratio is currently 45.09%.
Wall Street Analyst Weigh In
OTIS has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Morgan Stanley started coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and a consensus price target of $98.57.
Read Our Latest Report on OTIS
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.
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