Czech National Bank Has $8.48 Million Stock Position in Otis Worldwide Co. (NYSE:OTIS)

Czech National Bank increased its stake in Otis Worldwide Co. (NYSE:OTIS) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,597 shares of the company’s stock after buying an additional 4,549 shares during the quarter. Czech National Bank’s holdings in Otis Worldwide were worth $8,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its position in Otis Worldwide by 264.9% during the second quarter. Meeder Asset Management Inc. now owns 270 shares of the company’s stock worth $26,000 after buying an additional 196 shares during the last quarter. Jamison Private Wealth Management Inc. increased its holdings in shares of Otis Worldwide by 5,720.0% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company’s stock worth $28,000 after acquiring an additional 286 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in Otis Worldwide by 675.7% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company’s stock valued at $28,000 after acquiring an additional 250 shares during the period. Hantz Financial Services Inc. acquired a new stake in Otis Worldwide during the 2nd quarter valued at $29,000. Finally, Accent Capital Management LLC bought a new position in Otis Worldwide during the fourth quarter worth $36,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Trading Up 0.1 %

Shares of NYSE:OTIS opened at $102.99 on Friday. The firm has a 50 day moving average of $96.01 and a 200-day moving average of $96.38. Otis Worldwide Co. has a 12 month low of $73.32 and a 12 month high of $105.39. The stock has a market capitalization of $41.64 billion, a PE ratio of 29.77 and a beta of 1.03.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 24th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.74 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Otis Worldwide Co. will post 3.88 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide’s payout ratio is 45.09%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OTIS shares. Wells Fargo & Company increased their price objective 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. Barclays increased their price target on shares of Otis Worldwide from $90.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Otis Worldwide in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Otis Worldwide presently has an average rating of “Hold” and an average price target of $102.71.

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.