Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Goodman Advisory Group LLC

Goodman Advisory Group LLC lowered its position in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) by 83.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,265 shares of the company's stock after selling 6,580 shares during the period. Goodman Advisory Group LLC's holdings in Otis Worldwide were worth $131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Resources Management Corp CT ADV lifted its holdings in shares of Otis Worldwide by 354.0% in the 3rd quarter. Resources Management Corp CT ADV now owns 1,480 shares of the company's stock worth $154,000 after acquiring an additional 1,154 shares during the last quarter. M&T Bank Corp raised its position in Otis Worldwide by 11.2% in the third quarter. M&T Bank Corp now owns 183,984 shares of the company's stock valued at $19,123,000 after purchasing an additional 18,536 shares during the period. Groupama Asset Managment lifted its stake in Otis Worldwide by 1.4% during the third quarter. Groupama Asset Managment now owns 9,428 shares of the company's stock worth $980,000 after purchasing an additional 132 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Otis Worldwide by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 121,046 shares of the company's stock worth $12,582,000 after purchasing an additional 4,784 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Otis Worldwide during the third quarter worth $13,027,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

Analyst Upgrades and Downgrades

OTIS has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on Otis Worldwide from $108.00 to $105.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Barclays lowered shares of Otis Worldwide from an "equal weight" rating to an "underweight" rating and set a $94.00 price objective for the company. in a research note on Thursday, December 5th. UBS Group began coverage on shares of Otis Worldwide in a research note on Wednesday, November 13th. They set a "neutral" rating and a $113.00 target price on the stock. Wolfe Research cut shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley assumed coverage on Otis Worldwide in a research report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $104.57.

Insider Activity at Otis Worldwide

In other news, EVP Abbe Luersman sold 9,000 shares of Otis Worldwide stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $101.02, for a total transaction of $909,180.00. Following the sale, the executive vice president now owns 9,992 shares in the company, valued at approximately $1,009,391.84. The trade was a 47.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS traded down $0.85 during trading hours on Tuesday, reaching $100.02. The stock had a trading volume of 775,179 shares, compared to its average volume of 2,081,218. Otis Worldwide Co. has a 1 year low of $85.42 and a 1 year high of $106.33. The firm's 50 day moving average is $101.85 and its 200-day moving average is $97.95. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 25.16 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.59 billion. Otis Worldwide had a net margin of 11.48% and a negative return on equity of 31.28%. The business's quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. Analysts forecast that Otis Worldwide Co. will post 3.85 EPS for the current year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, November 15th. Otis Worldwide's dividend payout ratio (DPR) is 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.