Van Hulzen Asset Management LLC Buys Shares of 11,650 Otis Worldwide Co. (NYSE:OTIS)

Van Hulzen Asset Management LLC bought a new stake in Otis Worldwide Co. (NYSE:OTISGet Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,650 shares of the company’s stock, valued at approximately $1,014,000.

A number of other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC lifted its position in shares of Otis Worldwide by 38.3% in the third quarter. Signaturefd LLC now owns 3,787 shares of the company’s stock valued at $312,000 after acquiring an additional 1,049 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Otis Worldwide in the third quarter valued at $225,000. Janney Montgomery Scott LLC lifted its position in shares of Otis Worldwide by 4.3% in the third quarter. Janney Montgomery Scott LLC now owns 91,168 shares of the company’s stock valued at $7,501,000 after acquiring an additional 3,797 shares in the last quarter. Busey Wealth Management lifted its position in shares of Otis Worldwide by 5.0% in the third quarter. Busey Wealth Management now owns 9,058 shares of the company’s stock valued at $745,000 after acquiring an additional 435 shares in the last quarter. Finally, Strong Tower Advisory Services purchased a new stake in shares of Otis Worldwide in the third quarter valued at $758,000. 81.27% of the stock is currently owned by institutional investors.

Shares of NYSE:OTIS traded up $1.61 on Tuesday, hitting $75.23. The company had a trading volume of 35,984 shares, compared to its average volume of 2,847,859. Otis Worldwide Co. has a 52-week low of $69.83 and a 52-week high of $92.84. The business has a 50 day moving average of $76.79 and a 200 day moving average of $81.33. The company has a market cap of $31.80 billion, a PE ratio of 25.47 and a beta of 0.94.

Otis Worldwide (NYSE:OTISGet Rating) last released its earnings results on Monday, January 31st. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Otis Worldwide had a negative return on equity of 39.58% and a net margin of 8.71%. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts predict that Otis Worldwide Co. will post 3.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Friday, February 18th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 17th. This represents a $0.96 annualized dividend and a yield of 1.28%. Otis Worldwide’s dividend payout ratio (DPR) is presently 33.22%.

Otis Worldwide Profile (Get Rating)

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.

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

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