Resonant Capital Advisors LLC Has $398,000 Stock Position in Otis Worldwide Corporation $OTIS

Resonant Capital Advisors LLC lifted its position in Otis Worldwide Corporation (NYSE:OTIS) by 8.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,019 shares of the company’s stock after purchasing an additional 318 shares during the period. Resonant Capital Advisors LLC’s holdings in Otis Worldwide were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Otis Worldwide during the 1st quarter valued at $31,000. Cheviot Value Management LLC acquired a new position in Otis Worldwide during the 1st quarter valued at $31,000. Flaharty Asset Management LLC acquired a new position in Otis Worldwide during the 1st quarter valued at $38,000. Toth Financial Advisory Corp acquired a new position in Otis Worldwide during the 2nd quarter valued at $45,000. Finally, Ransom Advisory Ltd acquired a new position in Otis Worldwide during the 1st quarter valued at $48,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

OTIS opened at $92.00 on Tuesday. The firm’s 50-day simple moving average is $89.46 and its 200-day simple moving average is $93.16. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The firm has a market cap of $36.11 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.61 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OTIS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Barclays dropped their price objective on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, July 24th. Royal Bank Of Canada dropped their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, July 28th. Finally, Morgan Stanley increased their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus price target of $104.63.

About Otis Worldwide

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.