Fractal Investments LLC Has $384,000 Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Fractal Investments LLC decreased its stake in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) by 60.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,690 shares of the company's stock after selling 5,710 shares during the period. Fractal Investments LLC's holdings in Otis Worldwide were worth $384,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OTIS. Riverview Trust Co bought a new stake 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% during the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company's stock worth $26,000 after purchasing an additional 196 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Otis Worldwide during the 3rd quarter valued at about $28,000. Cranbrook Wealth Management LLC boosted its stake in shares of Otis Worldwide by 675.7% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company's stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its position 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 period. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock traded up $0.40 on Wednesday, hitting $100.56. The company had a trading volume of 2,931,632 shares, compared to its average volume of 2,115,823. Otis Worldwide Co. has a twelve month low of $79.54 and a twelve month high of $106.33. The stock has a 50-day moving average of $99.37 and a 200-day moving average of $96.98. The firm has a market capitalization of $40.17 billion, a P/E ratio of 25.08 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. Otis Worldwide's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. Equities analysts predict that Otis Worldwide Co. will post 3.86 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 15th. Otis Worldwide's dividend payout ratio (DPR) is currently 38.90%.

Analyst Upgrades and Downgrades

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

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.