JFS Wealth Advisors LLC Has $54,000 Position in Otis Worldwide Co. (NYSE:OTIS)

JFS Wealth Advisors LLC reduced its holdings in shares of Otis Worldwide Co. (NYSE:OTIS) by 26.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 519 shares of the company’s stock after selling 189 shares during the period. JFS Wealth Advisors LLC’s holdings in Otis Worldwide were worth $54,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in OTIS. Diversify Wealth Management LLC lifted its holdings in Otis Worldwide by 12.9% during the 3rd quarter. Diversify Wealth Management LLC now owns 6,280 shares of the company’s stock valued at $646,000 after purchasing an additional 717 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Otis Worldwide by 9.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 20,120 shares of the company’s stock valued at $2,091,000 after purchasing an additional 1,788 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Otis Worldwide by 1,160.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 43,461 shares of the company’s stock valued at $4,454,000 after purchasing an additional 40,013 shares during the last quarter. Boston Financial Mangement LLC lifted its holdings in Otis Worldwide by 9.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 23,552 shares of the company’s stock valued at $2,448,000 after purchasing an additional 2,008 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in Otis Worldwide by 11.6% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,142 shares of the company’s stock valued at $742,000 after purchasing an additional 744 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OTIS shares. Wells Fargo & Company cut their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Otis Worldwide in a research note on Thursday, September 19th. 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 research note on Thursday. Morgan Stanley assumed coverage on shares of Otis Worldwide in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Finally, Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Eight equities research 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 has an average rating of “Hold” and an average target price of $102.00.

Otis Worldwide Price Performance

OTIS opened at $99.44 on Friday. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 24.80 and a beta of 1.03. The firm has a 50 day simple moving average of $99.11 and a 200 day simple moving average of $96.89. Otis Worldwide Co. has a fifty-two week low of $77.51 and a fifty-two week high of $106.33.

Otis Worldwide (NYSE:OTIS) last posted 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 business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. As a group, analysts expect that Otis Worldwide Co. will post 3.88 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, November 15th. Otis Worldwide’s dividend payout ratio is currently 38.90%.

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.