Jump Financial LLC Grows Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)

Jump Financial LLC boosted its stake in shares of Otis Worldwide Co. (NYSE:OTISFree Report) by 36.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,889 shares of the company’s stock after buying an additional 2,642 shares during the quarter. Jump Financial LLC’s holdings in Otis Worldwide were worth $794,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new position in Otis Worldwide during the second quarter worth about $26,000. Core Alternative Capital boosted its stake in Otis Worldwide by 91.1% during the second quarter. Core Alternative Capital now owns 302 shares of the company’s stock worth $27,000 after buying an additional 144 shares during the period. Janiczek Wealth Management LLC boosted its stake in Otis Worldwide by 141.1% during the third quarter. Janiczek Wealth Management LLC now owns 381 shares of the company’s stock worth $31,000 after buying an additional 223 shares during the period. Exchange Traded Concepts LLC boosted its stake in Otis Worldwide by 108.5% during the second quarter. Exchange Traded Concepts LLC now owns 394 shares of the company’s stock worth $35,000 after buying an additional 205 shares during the period. Finally, Union Savings Bank purchased a new position in Otis Worldwide during the second quarter worth about $37,000. Hedge funds and other institutional investors own 85.48% of the company’s stock.

Otis Worldwide Stock Up 1.2 %

Shares of NYSE:OTIS opened at $91.94 on Wednesday. The firm’s 50 day moving average price is $88.23 and its 200 day moving average price is $84.77. The stock has a market cap of $37.28 billion, a price-to-earnings ratio of 27.12 and a beta of 1.00. Otis Worldwide Co. has a fifty-two week low of $73.32 and a fifty-two week high of $92.13.

Otis Worldwide (NYSE:OTISGet Free Report) last issued its earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Otis Worldwide had a net margin of 9.90% and a negative return on equity of 30.75%. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities analysts anticipate that Otis Worldwide Co. will post 3.83 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.48%. Otis Worldwide’s payout ratio is currently 40.12%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a research note on Thursday, February 1st. Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Otis Worldwide in a research note on Monday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and an average target price of $89.33.

Read Our Latest Stock Analysis on Otis Worldwide

Otis Worldwide Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

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