Radnor Capital Management LLC Acquires 224 Shares of Otis Worldwide Co. (NYSE:OTIS)

Radnor Capital Management LLC raised its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,776 shares of the company’s stock after acquiring an additional 224 shares during the quarter. Radnor Capital Management LLC’s holdings in Otis Worldwide were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. PineStone Asset Management Inc. lifted its holdings in Otis Worldwide by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 4,464,131 shares of the company’s stock valued at $429,717,000 after purchasing an additional 2,590,780 shares in the last quarter. Van ECK Associates Corp raised its holdings in Otis Worldwide by 3,673.6% during the third quarter. Van ECK Associates Corp now owns 2,261,929 shares of the company’s stock valued at $232,662,000 after acquiring an additional 2,201,988 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Otis Worldwide by 12.4% in 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 acquiring an additional 907,972 shares in the last quarter. Sarasin & Partners LLP boosted its stake in shares of Otis Worldwide by 27.2% in the second quarter. Sarasin & Partners LLP now owns 4,135,271 shares of the company’s stock worth $398,061,000 after acquiring an additional 883,659 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of Otis Worldwide by 2,782.3% during the second quarter. Brown Brothers Harriman & Co. now owns 815,179 shares of the company’s stock worth $78,469,000 after purchasing an additional 786,897 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

OTIS has been the topic of a number of research reports. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Otis Worldwide in a report on Thursday, September 19th. Barclays cut their price target on Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Morgan Stanley began coverage on Otis Worldwide in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Finally, Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $102.00.

Otis Worldwide Trading Up 0.4 %

OTIS stock opened at $100.56 on Thursday. Otis Worldwide Co. has a 12 month low of $79.54 and a 12 month high of $106.33. The stock has a market cap of $40.17 billion, a PE ratio of 25.08 and a beta of 1.04. The company has a 50-day moving average price of $99.37 and a 200 day moving average price of $96.98.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, October 30th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts forecast that Otis Worldwide Co. will post 3.86 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, November 15th. Otis Worldwide’s dividend payout ratio is presently 38.90%.

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.