Otis Worldwide Corporation (NYSE:OTIS) Stock Holdings Lowered by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its holdings in Otis Worldwide Corporation by 7.3%, dropping to approximately 1.57 million shares, valued at about $162 million.
• Otis Worldwide recently reported $1.05 EPS for the quarter, slightly beating analysts' estimates but showing a negative return on equity of 30.95% and a year-over-year revenue decline of 0.2%.
• The company declared a quarterly dividend of $0.42, which represents an annual yield of 1.9% with a payout ratio of 44.44%.

Deutsche Bank AG lowered its stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,571,340 shares of the company's stock after selling 124,106 shares during the period. Deutsche Bank AG owned approximately 0.40% of Otis Worldwide worth $162,162,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Transce3nd LLC acquired a new stake in shares of Otis Worldwide in the fourth quarter worth approximately $25,000. NBC Securities Inc. acquired a new position in Otis Worldwide in the first quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in Otis Worldwide during the 4th quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new position in Otis Worldwide during the first quarter worth about $31,000. Finally, Cheviot Value Management LLC acquired a new position in Otis Worldwide during the first quarter worth about $31,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Trading Down 1.6%

NYSE OTIS traded down $1.41 on Monday, hitting $86.06. 4,171,302 shares of the company's stock traded hands, compared to its average volume of 2,746,468. The firm's 50-day moving average price is $94.92 and its two-hundred day moving average price is $96.83. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83. The firm has a market capitalization of $33.78 billion, a PE ratio of 22.77, a P/E/G ratio of 4.20 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.02. The firm had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.73 billion. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The firm's quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. On average, research analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. Otis Worldwide's payout ratio is 44.44%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a research note on Monday, July 14th. They set a "hold" rating and a $109.00 price objective for the company. Wolfe Research raised shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday, July 25th. Morgan Stanley boosted their price objective on Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Barclays lowered their target price on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $102.50.

Otis Worldwide 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.