YHB Investment Advisors Inc. Has $2.13 Million Stock Position in Otis Worldwide Co. (NYSE:OTIS)

YHB Investment Advisors Inc. lowered its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,011 shares of the company’s stock after selling 406 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Otis Worldwide were worth $2,131,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Optas LLC lifted its holdings in shares of Otis Worldwide by 2.2% in the third quarter. Optas LLC now owns 5,522 shares of the company’s stock valued at $574,000 after purchasing an additional 118 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in Otis Worldwide by 4.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,867 shares of the company’s stock worth $299,000 after acquiring an additional 122 shares in the last quarter. PFG Investments LLC lifted its stake in Otis Worldwide by 4.1% in the 4th quarter. PFG Investments LLC now owns 3,342 shares of the company’s stock worth $309,000 after acquiring an additional 131 shares in the last quarter. Groupama Asset Managment boosted its position in Otis Worldwide by 1.4% during the 3rd quarter. Groupama Asset Managment now owns 9,428 shares of the company’s stock worth $980,000 after acquiring an additional 132 shares during the period. Finally, UMB Bank n.a. grew its stake in Otis Worldwide by 2.9% during the 4th quarter. UMB Bank n.a. now owns 4,929 shares of the company’s stock valued at $456,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Insider Activity

In other news, EVP Abbe Luersman sold 9,000 shares of Otis Worldwide stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $101.02, for a total transaction of $909,180.00. Following the transaction, the executive vice president now directly owns 9,992 shares of the company’s stock, valued at $1,009,391.84. This trade represents a 47.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Performance

OTIS opened at $97.74 on Tuesday. The stock has a 50-day moving average of $96.30 and a 200-day moving average of $97.24. Otis Worldwide Co. has a 52-week low of $87.57 and a 52-week high of $106.33. The company has a market cap of $39.04 billion, a PE ratio of 24.37 and a beta of 1.06.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share 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 company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the company earned $0.95 earnings per share. Otis Worldwide’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts predict that Otis Worldwide Co. will post 3.86 earnings per share for the current year.

Otis Worldwide announced that its Board of Directors has approved a share buyback program on Thursday, January 16th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 1.60%. Otis Worldwide’s dividend payout ratio (DPR) is currently 38.90%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays decreased their price target on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. UBS Group initiated coverage on shares of Otis Worldwide in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Otis Worldwide from $112.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Wolfe Research lowered Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price on the stock. in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $103.88.

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.