Pinestone Asset Management Reduces $13M in Otis Worldwide Corporation ($OTIS)
Key Points
- Pinestone Asset Management changed its Otis Worldwide Corporation ($OTIS) stake by 4.0% last quarter, cutting to 4,493,882 shares worth $317.94 million.
- Wall Street's consensus rating on $OTIS is Buy and an average price target of $94.20.
- $OTIS last traded around $70.75.
Pinestone Asset Management trimmed its position in Otis Worldwide Corporation ($OTIS) by 4.0% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,493,882 shares of Otis Worldwide Corporation after selling 186,115 shares during the quarter. Pinestone Asset Management's holdings in Otis Worldwide Corporation were worth $317.94 million as of its most recent filing.
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About Otis Worldwide Corporation
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. This segment serves real-estate and building developers, and general contractors. It sells its products directly to customers, as well as through agents and distributors. The Service segment performs maintenance and repair services, as well as modernization services to upgrade elevators and escalators. Otis Worldwide Corporation was founded in 1853 and is headquartered in Farmington, Connecticut.
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