Natixis Advisors LLC Has $26.02 Million Holdings in Otis Worldwide Co. (NYSE:OTIS)

Natixis Advisors LLC increased its stake in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,918 shares of the company's stock after buying an additional 23,869 shares during the quarter. Natixis Advisors LLC owned 0.07% of Otis Worldwide worth $26,016,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Frank Rimerman Advisors LLC acquired a new position in Otis Worldwide in the fourth quarter valued at about $349,000. Montis Financial LLC boosted its holdings in shares of Otis Worldwide by 5.2% in the 4th quarter. Montis Financial LLC now owns 2,216 shares of the company's stock worth $205,000 after acquiring an additional 110 shares in the last quarter. First Eagle Investment Management LLC grew its position in Otis Worldwide by 19.4% during the 4th quarter. First Eagle Investment Management LLC now owns 52,203 shares of the company's stock worth $4,835,000 after acquiring an additional 8,474 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its position in Otis Worldwide by 8.3% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,104,769 shares of the company's stock worth $102,312,000 after acquiring an additional 84,671 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Otis Worldwide by 3.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 31,420 shares of the company's stock valued at $2,910,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company's stock.

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Otis Worldwide Stock Performance

Otis Worldwide stock traded down $0.93 during trading hours on Friday, reaching $100.97. 7,242,468 shares of the company's stock traded hands, compared to its average volume of 2,008,908. The firm has a market capitalization of $40.04 billion, a price-to-earnings ratio of 24.87 and a beta of 1.05. Otis Worldwide Co. has a fifty-two week low of $90.12 and a fifty-two week high of $106.83. The firm's 50 day moving average is $97.52 and its 200-day moving average is $98.27.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.02). Otis Worldwide had a net margin of 11.53% and a negative return on equity of 31.76%. Analysts predict that Otis Worldwide Co. will post 4.04 EPS for the current year.

Otis Worldwide declared that its board has authorized a stock buyback plan on Thursday, January 16th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.54%. Otis Worldwide's dividend payout ratio (DPR) is presently 38.42%.

Insider Transactions at Otis Worldwide

In related news, CEO Judith Fran Marks sold 38,012 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $94.41, for a total transaction of $3,588,712.92. Following the sale, the chief executive officer now owns 245,883 shares of the company's stock, valued at approximately $23,213,814.03. This trade represents a 13.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Montlivault Stephane De sold 6,660 shares of Otis Worldwide stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $105.30, for a total value of $701,298.00. Following the transaction, the insider now owns 63,931 shares in the company, valued at approximately $6,731,934.30. This represents a 9.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,281 shares of company stock worth $10,747,553. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on OTIS. Barclays reduced their price objective on Otis Worldwide from $94.00 to $91.00 and set an "underweight" rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Finally, Wolfe Research lowered shares of 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 issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $102.88.

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.