Nisa Investment Advisors LLC Buys 3,619 Shares of Otis Worldwide Corporation $OTIS

Nisa Investment Advisors LLC grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,306 shares of the company’s stock after purchasing an additional 3,619 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Otis Worldwide were worth $11,913,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $31,000. Cheviot Value Management LLC bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $31,000. Flaharty Asset Management LLC bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $38,000. Toth Financial Advisory Corp bought a new stake in shares of Otis Worldwide in the 2nd quarter valued at about $45,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Otis Worldwide in the 1st quarter valued at about $48,000. Institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

OTIS has been the subject of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Otis Worldwide in a report on Wednesday, October 8th. Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Morgan Stanley lifted their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and a consensus price target of $104.63.

Otis Worldwide Trading Up 0.0%

NYSE:OTIS opened at $92.00 on Tuesday. The company’s 50 day moving average is $89.46 and its two-hundred day moving average is $93.16. The company has a market cap of $36.11 billion, a PE ratio of 24.34, a P/E/G ratio of 3.61 and a beta of 1.00. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83.

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.