Yousif Capital Management LLC Has $5.83 Million Position in Otis Worldwide Co. (NYSE:OTIS)

Posted by Defense World Staff on Mar 19th, 2023

Yousif Capital Management LLC lifted its stake in shares of Otis Worldwide Co. (NYSE:OTIS – Get Rating) by 22.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 74,490 shares of the company’s stock after buying an additional 13,572 shares during the quarter. Yousif Capital Management LLC’s holdings in Otis Worldwide were worth $5,833,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OTIS. American Century Companies Inc. lifted its stake in shares of Otis Worldwide by 8.6% during the 1st quarter. American Century Companies Inc. now owns 7,817 shares of the company’s stock worth $601,000 after buying an additional 620 shares during the last quarter. Cibc World Market Inc. lifted its stake in shares of Otis Worldwide by 3.0% during the 1st quarter. Cibc World Market Inc. now owns 11,669 shares of the company’s stock worth $898,000 after buying an additional 338 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of Otis Worldwide by 7.7% during the 1st quarter. Moors & Cabot Inc. now owns 6,574 shares of the company’s stock worth $506,000 after buying an additional 469 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Otis Worldwide by 25.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,536 shares of the company’s stock worth $272,000 after buying an additional 715 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of Otis Worldwide by 5.0% during the 1st quarter. Brighton Jones LLC now owns 3,876 shares of the company’s stock worth $298,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Otis Worldwide Stock Down 1.8 %

OTIS stock opened at $80.04 on Friday. Otis Worldwide Co. has a 12 month low of $62.49 and a 12 month high of $87.33. The firm has a market cap of $33.21 billion, a P/E ratio of 26.95 and a beta of 0.93. The company’s 50-day moving average price is $83.16 and its two-hundred day moving average price is $76.62.

Otis Worldwide (NYSE:OTIS – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.73 by $0.02. Otis Worldwide had a net margin of 9.16% and a negative return on equity of 27.69%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the firm earned $0.72 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts predict that Otis Worldwide Co. will post 3.43 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, February 16th. Otis Worldwide’s dividend payout ratio (DPR) is presently 39.06%.

Insider Activity at Otis Worldwide

In related news, insider Fernandez Bernardo Calleja sold 837 shares of Otis Worldwide stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $84.67, for a total transaction of $70,868.79. Following the sale, the insider now directly owns 19,998 shares of the company’s stock, valued at approximately $1,693,230.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Fernandez Bernardo Calleja sold 837 shares of Otis Worldwide stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $84.67, for a total transaction of $70,868.79. Following the sale, the insider now directly owns 19,998 shares of the company’s stock, valued at approximately $1,693,230.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James F. Cramer sold 700 shares of Otis Worldwide stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $83.97, for a total transaction of $58,779.00. Following the sale, the insider now owns 5,037 shares in the company, valued at $422,956.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,777 shares of company stock valued at $2,759,404. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cowen raised their target price on shares of Otis Worldwide from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Barclays raised their price target on shares of Otis Worldwide from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 2nd. Morgan Stanley raised their price target on shares of Otis Worldwide from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 2nd. Finally, Wells Fargo & Company raised their price target on shares of Otis Worldwide from $76.00 to $82.00 and gave the stock an “underweight” rating in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Otis Worldwide has a consensus rating of “Hold” and an average target price of $81.00.

Otis Worldwide Company Profile

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Otis Worldwide Corporation manufactures, installs, and services 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.