Cobblestone Capital Advisors LLC NY Grows Stock Holdings in Otis Worldwide Corporation $OTIS

Cobblestone Capital Advisors LLC NY boosted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,673 shares of the company’s stock after purchasing an additional 189 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Otis Worldwide were worth $265,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Otis Worldwide during the 1st quarter valued at about $31,000. Cheviot Value Management LLC purchased a new position in shares of Otis Worldwide during the first quarter valued at approximately $31,000. Chilton Capital Management LLC purchased a new position in shares of Otis Worldwide during the second quarter valued at approximately $31,000. Flaharty Asset Management LLC purchased a new position in shares of Otis Worldwide during the first quarter valued at approximately $38,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of Otis Worldwide during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $92.00 on Tuesday. The stock has a market capitalization of $36.11 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.61 and a beta of 1.00. The stock’s 50-day simple moving average is $89.46 and its two-hundred day simple moving average is $93.16. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83.

Analyst Ratings Changes

Several brokerages recently issued reports on OTIS. Royal Bank Of Canada reduced their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Barclays cut their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 price target on the stock. Finally, Zacks Research upgraded shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $104.63.

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.