US Bancorp DE Has $21.07 Million Holdings in Otis Worldwide Co. (NYSE:OTIS)

US Bancorp DE reduced its stake in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 202,720 shares of the company's stock after selling 10,052 shares during the quarter. US Bancorp DE owned approximately 0.05% of Otis Worldwide worth $21,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OTIS. Nordea Investment Management AB grew its position in shares of Otis Worldwide by 19.6% in the first quarter. Nordea Investment Management AB now owns 463,190 shares of the company's stock valued at $46,138,000 after purchasing an additional 75,878 shares during the last quarter. First Eagle Investment Management LLC increased its position in Otis Worldwide by 173.7% in the 1st quarter. First Eagle Investment Management LLC now owns 20,048 shares of the company's stock worth $1,990,000 after buying an additional 12,722 shares during the period. Appian Way Asset Management LP acquired a new position in shares of Otis Worldwide during the second quarter worth approximately $991,000. Cetera Investment Advisers boosted its position in shares of Otis Worldwide by 259.1% in the first quarter. Cetera Investment Advisers now owns 46,371 shares of the company's stock valued at $4,603,000 after acquiring an additional 33,457 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Otis Worldwide by 37.5% in the first quarter. SG Americas Securities LLC now owns 159,478 shares of the company's stock valued at $15,831,000 after acquiring an additional 43,485 shares during the period. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Stock Performance

NYSE OTIS traded up $1.24 during trading on Friday, reaching $99.44. 3,060,559 shares of the company traded hands, compared to its average volume of 1,952,509. Otis Worldwide Co. has a 1-year low of $77.51 and a 1-year high of $106.33. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 24.80 and a beta of 1.04. The stock's 50 day moving average price is $99.11 and its two-hundred day moving average price is $96.90.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate 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 revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. Equities research analysts expect that Otis Worldwide Co. will post 3.85 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, November 15th. Otis Worldwide's dividend payout ratio is currently 38.90%.

Wall Street Analyst Weigh In

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

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.