Otis Worldwide Co. (NYSE:OTIS) Shares Bought by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lifted its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 70.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,935 shares of the company’s stock after buying an additional 800 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Otis Worldwide were worth $186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OTIS. Jamison Private Wealth Management Inc. increased its holdings in shares of Otis Worldwide by 5,720.0% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock worth $28,000 after buying an additional 286 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Otis Worldwide during the 2nd quarter worth $29,000. LifeSteps Financial Inc. acquired a new stake in shares of Otis Worldwide during the 1st quarter worth $31,000. Accent Capital Management LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter worth $36,000. Finally, Versant Capital Management Inc increased its holdings in shares of Otis Worldwide by 125.0% during the 2nd quarter. Versant Capital Management Inc now owns 369 shares of the company’s stock worth $36,000 after buying an additional 205 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley assumed coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Wells Fargo & Company lowered their price target on Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.57.

Otis Worldwide Stock Up 0.4 %

Shares of NYSE OTIS opened at $92.49 on Thursday. The firm’s 50-day moving average price is $94.62 and its two-hundred day moving average price is $95.93. Otis Worldwide Co. has a 52-week low of $73.32 and a 52-week high of $100.84. The stock has a market capitalization of $37.40 billion, a P/E ratio of 26.73 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the business earned $0.92 earnings per share. Otis Worldwide’s revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, August 16th. Otis Worldwide’s dividend payout ratio is 45.09%.

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.