Susquehanna Fundamental Investments LLC Invests $3.19 Million in Otis Worldwide Co. (NYSE:OTIS)

Susquehanna Fundamental Investments LLC acquired a new stake in Otis Worldwide Co. (NYSE:OTIS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 33,119 shares of the company's stock, valued at approximately $3,188,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Otis Worldwide by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 45,773,358 shares of the company's stock valued at $4,095,342,000 after buying an additional 5,913,933 shares during the period. PineStone Asset Management Inc. increased its position in shares of Otis Worldwide by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,464,131 shares of the company's stock valued at $429,717,000 after purchasing an additional 2,590,780 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Otis Worldwide by 12.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,247,918 shares of the company's stock valued at $793,945,000 after purchasing an additional 907,972 shares during the period. Sarasin & Partners LLP raised its stake in shares of Otis Worldwide by 27.2% in the 2nd quarter. Sarasin & Partners LLP now owns 4,135,271 shares of the company's stock worth $398,061,000 after buying an additional 883,659 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Otis Worldwide by 2,782.3% in the second quarter. Brown Brothers Harriman & Co. now owns 815,179 shares of the company's stock valued at $78,469,000 after buying an additional 786,897 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $110.00 price target on shares of Otis Worldwide in a research report on Thursday, September 19th. Wells Fargo & Company reduced their price objective on Otis Worldwide from $100.00 to $95.00 and set an "equal weight" rating for the company in a research note on Thursday, July 25th. 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 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Otis Worldwide currently has an average rating of "Hold" and an average target price of $100.00.

Otis Worldwide Stock Down 0.5 %

Shares of OTIS traded down $0.53 during mid-day trading on Monday, reaching $103.90. The company's stock had a trading volume of 2,317,828 shares, compared to its average volume of 2,113,451. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $105.24. The company has a market cap of $41.62 billion, a price-to-earnings ratio of 30.24 and a beta of 1.03. The business has a fifty day moving average of $94.39 and a 200 day moving average of $96.05.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.03. Otis Worldwide had a negative return on equity of 31.65% and a net margin of 10.35%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the company posted $0.92 EPS. The business's quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts predict that Otis Worldwide Co. will post 3.88 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide's dividend payout ratio (DPR) is presently 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.