Fiera Capital Corp Trims Position in Otis Worldwide Co. (NYSE:OTIS)

Fiera Capital Corp trimmed its position in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,903,297 shares of the company's stock after selling 116,451 shares during the quarter. Otis Worldwide comprises about 2.2% of Fiera Capital Corp's investment portfolio, making the stock its 12th biggest position. Fiera Capital Corp owned about 1.72% of Otis Worldwide worth $717,529,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OTIS. Riverview Trust Co acquired a new position in shares of Otis Worldwide during the third quarter worth $25,000. Meeder Asset Management Inc. raised its holdings in Otis Worldwide by 264.9% in the second quarter. Meeder Asset Management Inc. now owns 270 shares of the company's stock valued at $26,000 after acquiring an additional 196 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its position in shares of Otis Worldwide by 5,720.0% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company's stock valued at $28,000 after purchasing an additional 286 shares during the period. Cranbrook Wealth Management LLC raised its position in Otis Worldwide by 675.7% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company's stock worth $28,000 after buying an additional 250 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Otis Worldwide during the third quarter worth about $28,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OTIS shares. Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, October 8th. Royal Bank of Canada reissued an "outperform" rating and set a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Barclays reduced their price objective on shares of Otis Worldwide from $96.00 to $94.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Wells Fargo & Company decreased their target price on Otis Worldwide from $108.00 to $105.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Finally, Morgan Stanley began coverage on shares of Otis Worldwide in a report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Otis Worldwide has a consensus rating of "Hold" and a consensus target price of $102.00.

Insider Buying and Selling

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total value of $909,180.00. Following the completion of the sale, the executive vice president now owns 9,992 shares of the company's stock, valued at $1,009,391.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.

Otis Worldwide Price Performance

NYSE:OTIS traded down $0.89 during trading hours on Friday, reaching $100.05. 2,688,975 shares of the company were exchanged, compared to its average volume of 2,073,167. The company has a market capitalization of $39.97 billion, a P/E ratio of 24.95 and a beta of 1.04. The business has a 50 day moving average of $99.65 and a 200 day moving average of $97.03. Otis Worldwide Co. has a 1-year low of $80.49 and a 1-year high of $106.33.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its 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 negative return on equity of 31.28% and a net margin of 11.48%. 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 previous year, the firm earned $0.95 earnings per share. The company's revenue was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Otis Worldwide Co. will post 3.85 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

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.