Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Grows Position in Otis Worldwide Co. (NYSE:OTIS)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 1,160.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,461 shares of the company's stock after buying an additional 40,013 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Otis Worldwide were worth $4,454,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Hancock Whitney Corp increased its stake in Otis Worldwide by 4.6% during the first quarter. Hancock Whitney Corp now owns 2,549 shares of the company's stock valued at $253,000 after acquiring an additional 111 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Otis Worldwide by 1.2% in the first quarter. Bleakley Financial Group LLC now owns 9,726 shares of the company's stock valued at $965,000 after purchasing an additional 117 shares in the last quarter. Brighton Jones LLC lifted its position in Otis Worldwide by 5.0% in the second quarter. Brighton Jones LLC now owns 2,580 shares of the company's stock worth $248,000 after purchasing an additional 124 shares during the period. Park Avenue Securities LLC boosted its stake in Otis Worldwide by 0.9% during the second quarter. Park Avenue Securities LLC now owns 14,931 shares of the company's stock worth $1,437,000 after buying an additional 127 shares in the last quarter. Finally, Clearstead Trust LLC increased its holdings in Otis Worldwide by 15.3% in the 1st quarter. Clearstead Trust LLC now owns 1,018 shares of the company's stock valued at $101,000 after buying an additional 135 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OTIS. Wells Fargo & Company lifted their target price on shares of Otis Worldwide from $95.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Morgan Stanley initiated coverage on Otis Worldwide in a research note on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price target on the stock. Wolfe Research cut shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Finally, Barclays lifted their target price on shares of Otis Worldwide from $90.00 to $96.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Otis Worldwide has an average rating of "Hold" and an average target price of $102.71.

Otis Worldwide Trading Down 3.1 %

NYSE:OTIS traded down $3.11 during mid-day trading on Wednesday, hitting $98.26. 2,802,614 shares of the company's stock were exchanged, compared to its average volume of 2,106,105. Otis Worldwide Co. has a fifty-two week low of $76.22 and a fifty-two week high of $106.33. The firm has a market capitalization of $39.36 billion, a P/E ratio of 29.30 and a beta of 1.03. The company has a 50 day simple moving average of $98.83 and a 200-day simple moving average of $96.85.

About Otis Worldwide

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.