Haverford Trust Co Has $242,000 Position in Otis Worldwide Co. (NYSE:OTIS)

Haverford Trust Co raised its holdings in Otis Worldwide Co. (NYSE:OTIS) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,328 shares of the company’s stock after purchasing an additional 180 shares during the period. Haverford Trust Co’s holdings in Otis Worldwide were worth $242,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in Otis Worldwide by 12.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,247,918 shares of the company’s stock worth $793,945,000 after buying an additional 907,972 shares in the last quarter. PineStone Asset Management Inc. increased 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 valued at $429,717,000 after purchasing an additional 2,590,780 shares during the last quarter. Sarasin & Partners LLP raised its holdings in shares of Otis Worldwide by 27.2% during the 2nd quarter. Sarasin & Partners LLP now owns 4,135,271 shares of the company’s stock worth $398,061,000 after buying an additional 883,659 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Otis Worldwide by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 3,660,401 shares of the company’s stock worth $352,351,000 after buying an additional 15,021 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Otis Worldwide by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,523,091 shares of the company’s stock valued at $242,873,000 after buying an additional 101,955 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock opened at $99.72 on Friday. Otis Worldwide Co. has a 52 week low of $83.21 and a 52 week high of $106.33. The stock has a 50 day moving average price of $100.11 and a two-hundred day moving average price of $97.21. The stock has a market capitalization of $39.83 billion, a PE ratio of 24.87 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.01). The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 EPS. Research analysts forecast that Otis Worldwide Co. will post 3.85 EPS for the current year.

Otis Worldwide Dividend Announcement

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

Wall Street Analysts Forecast Growth

OTIS has been the subject of a number of research reports. Barclays dropped their target price on shares of Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Morgan Stanley initiated coverage on shares of Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. UBS Group assumed coverage on shares of Otis Worldwide in a research note on Wednesday. They issued a “neutral” rating and a $113.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a research report on Thursday, September 19th. Finally, Wells Fargo & Company cut their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $104.57.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $101.02, for a total value of $909,180.00. Following the completion of the sale, the executive vice president now directly owns 9,992 shares of the company’s stock, valued at approximately $1,009,391.84. This represents a 47.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

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.