Guinness Asset Management LTD Has $190.51 Million Stock Holdings in Otis Worldwide Corporation $OTIS

Guinness Asset Management LTD lifted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,925,000 shares of the company’s stock after purchasing an additional 28,083 shares during the quarter. Otis Worldwide makes up about 3.4% of Guinness Asset Management LTD’s holdings, making the stock its 17th biggest position. Guinness Asset Management LTD’s holdings in Otis Worldwide were worth $190,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Otis Worldwide by 6.7% in the 1st quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock worth $3,913,347,000 after purchasing an additional 2,396,134 shares during the last quarter. Vanguard Group Inc. grew its holdings in Otis Worldwide by 3.5% during the first quarter. Vanguard Group Inc. now owns 46,595,293 shares of the company’s stock valued at $4,808,634,000 after purchasing an additional 1,591,450 shares during the last quarter. Nuveen LLC bought a new position in shares of Otis Worldwide in the first quarter valued at approximately $91,989,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Otis Worldwide by 16.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,138,076 shares of the company’s stock worth $427,049,000 after buying an additional 571,489 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in shares of Otis Worldwide by 13.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,639,065 shares of the company’s stock worth $459,360,000 after buying an additional 543,933 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays dropped their target price on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, July 24th. Wells Fargo & Company lifted their price objective on Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft started coverage on Otis Worldwide in a research report on Monday, July 14th. They set a “hold” rating and a $109.00 price objective for the company. Wolfe Research set a $109.00 target price on Otis Worldwide and gave the company an “outperform” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price target on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.63.

Otis Worldwide Stock Performance

NYSE OTIS opened at $91.91 on Monday. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The stock has a market cap of $36.07 billion, a PE ratio of 24.31, a PEG ratio of 3.61 and a beta of 1.00. The firm has a 50-day simple moving average of $89.37 and a 200 day simple moving average of $93.17.

Otis Worldwide 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.