Universal Beteiligungs und Servicegesellschaft mbH Has $31.73 Million Position in Otis Worldwide Corporation (NYSE:OTIS)

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 307,442 shares of the company's stock after selling 10,570 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Otis Worldwide worth $31,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTIS. Y Intercept Hong Kong Ltd bought a new position in Otis Worldwide in the first quarter valued at approximately $2,209,000. Choreo LLC raised its holdings in shares of Otis Worldwide by 5.0% during the first quarter. Choreo LLC now owns 18,511 shares of the company's stock worth $1,910,000 after acquiring an additional 884 shares during the period. Clifford Swan Investment Counsel LLC lifted its position in Otis Worldwide by 0.4% in the 1st quarter. Clifford Swan Investment Counsel LLC now owns 44,116 shares of the company's stock valued at $4,553,000 after acquiring an additional 176 shares in the last quarter. Arrow Financial Corp acquired a new position in Otis Worldwide in the 1st quarter worth $214,000. Finally, Crestwood Advisors Group LLC increased its holdings in Otis Worldwide by 17.7% during the 1st quarter. Crestwood Advisors Group LLC now owns 3,262 shares of the company's stock worth $337,000 after purchasing an additional 490 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Trading Up 0.6%

Shares of Otis Worldwide stock traded up $0.57 on Friday, reaching $89.77. 4,084,243 shares of the company were exchanged, compared to its average volume of 2,628,104. The company has a market capitalization of $35.43 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 2.46 and a beta of 0.98. Otis Worldwide Corporation has a one year low of $86.00 and a one year high of $106.83. The company has a 50-day moving average of $96.96 and a 200 day moving average of $97.29.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.73 billion. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. Analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, August 15th. Otis Worldwide's payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OTIS. JPMorgan Chase & Co. cut their price target on Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday. Wells Fargo & Company dropped their target price on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Otis Worldwide in a research report on Monday, July 14th. They set a "hold" rating and a $109.00 price target for the company. Royal Bank Of Canada lowered their price objective on shares of Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Wolfe Research upgraded shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Otis Worldwide currently has an average rating of "Hold" and an average price target 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.