Achmea Investment Management B.V. Acquires 15,150 Shares of Otis Worldwide Corporation (NYSE:OTIS)

Achmea Investment Management B.V. increased its stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 28.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 69,168 shares of the company's stock after buying an additional 15,150 shares during the quarter. Achmea Investment Management B.V.'s holdings in Otis Worldwide were worth $7,138,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC bought a new position in shares of Otis Worldwide during the 4th quarter worth $25,000. NBC Securities Inc. purchased a new stake in Otis Worldwide during the first quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new position in Otis Worldwide during the fourth quarter worth about $28,000. Flagship Wealth Advisors LLC purchased a new position in shares of Otis Worldwide in the fourth quarter worth about $34,000. Finally, Orion Capital Management LLC bought a new stake in shares of Otis Worldwide in the fourth quarter valued at approximately $35,000. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Price Performance

Shares of NYSE:OTIS traded up $1.39 on Tuesday, hitting $100.41. The company's stock had a trading volume of 1,849,596 shares, compared to its average volume of 2,333,525. The company has a market capitalization of $39.63 billion, a PE ratio of 26.35 and a beta of 0.98. The company has a 50-day simple moving average of $96.25 and a 200 day simple moving average of $96.68. Otis Worldwide Corporation has a 1 year low of $89.70 and a 1 year high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. Otis Worldwide had a net margin of 10.83% and a negative return on equity of 31.72%. The company had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.41 billion. During the same period in the prior year, the business earned $0.88 earnings per share. Otis Worldwide's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were given a $0.42 dividend. The ex-dividend date was Friday, May 16th. This is a positive change from Otis Worldwide's previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a yield of 1.67%. Otis Worldwide's payout ratio is 44.09%.

Wall Street Analyst Weigh In

OTIS has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Otis Worldwide from $88.00 to $101.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays decreased their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company raised their target price on Otis Worldwide from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Royal Bank Of Canada decreased their price target on Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $101.43.

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.