Signaturefd LLC Has $518,000 Position in Otis Worldwide Co. (NYSE:OTIS)

Signaturefd LLC lessened its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 8.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,983 shares of the company’s stock after selling 458 shares during the period. Signaturefd LLC’s holdings in Otis Worldwide were worth $518,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OTIS. Massachusetts Financial Services Co. MA increased its stake in 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 in the last quarter. PineStone Asset Management Inc. grew its stake in shares of Otis Worldwide by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,464,131 shares of the company’s stock worth $429,717,000 after acquiring an additional 2,590,780 shares in the last quarter. Sarasin & Partners LLP grew 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 acquiring an additional 883,659 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Otis Worldwide by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 3,660,401 shares of the company’s stock worth $352,351,000 after acquiring an additional 15,021 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Otis Worldwide by 4.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,191,118 shares of the company’s stock worth $316,782,000 after acquiring an additional 126,684 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Otis Worldwide from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of Otis Worldwide from $95.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on shares of Otis Worldwide in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $102.71.

Otis Worldwide Stock Down 1.2 %

NYSE OTIS opened at $101.26 on Friday. The company has a market cap of $40.94 billion, a PE ratio of 29.27 and a beta of 1.03. Otis Worldwide Co. has a 52 week low of $75.16 and a 52 week high of $106.33. The firm’s 50-day simple moving average is $98.48 and its two-hundred day simple moving average is $96.81.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.74 billion. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, equities research analysts anticipate that Otis Worldwide Co. will post 3.88 EPS for the current year.

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.