Universal Beteiligungs und Servicegesellschaft mbH Decreases Position in Otis Worldwide Corporation $OTIS

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in Otis Worldwide Corporation (NYSE:OTIS) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 280,275 shares of the company’s stock after selling 27,167 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of Otis Worldwide worth $27,753,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Otis Worldwide by 6.7% in the 1st quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock valued at $3,913,347,000 after acquiring an additional 2,396,134 shares in the last quarter. Lifeworks Advisors LLC raised its stake in Otis Worldwide by 5.9% in the first quarter. Lifeworks Advisors LLC now owns 56,115 shares of the company’s stock valued at $5,791,000 after purchasing an additional 3,105 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Otis Worldwide during the first quarter valued at approximately $612,000. State of Wyoming grew its stake in Otis Worldwide by 278.6% in the 1st quarter. State of Wyoming now owns 7,406 shares of the company’s stock worth $764,000 after buying an additional 5,450 shares in the last quarter. Finally, Groupe la Francaise increased its holdings in shares of Otis Worldwide by 14.2% in the 1st quarter. Groupe la Francaise now owns 43,418 shares of the company’s stock worth $4,472,000 after buying an additional 5,391 shares during the last quarter. 88.03% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Michael Patrick Ryan sold 3,028 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $91.69, for a total value of $277,637.32. Following the completion of the transaction, the chief accounting officer owned 2,628 shares in the company, valued at $240,961.32. This trade represents a 53.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays boosted their price target on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Royal Bank Of Canada lowered their target price on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, July 28th. Wells Fargo & Company raised their price target on Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $103.71.

Otis Worldwide Stock Down 0.9%

Shares of OTIS stock opened at $88.00 on Tuesday. The firm has a market capitalization of $34.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 3.38 and a beta of 1.00. The stock has a fifty day moving average of $90.57 and a 200 day moving average of $92.58. Otis Worldwide Corporation has a 52 week low of $84.25 and a 52 week high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Equities research analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 14th. Otis Worldwide’s payout ratio is presently 49.56%.

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.