Siemens Fonds Invest GmbH Has $157,000 Stake in Otis Worldwide Co. (NYSE:OTIS)

Siemens Fonds Invest GmbH lowered its holdings in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 62.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,696 shares of the company's stock after selling 2,870 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Otis Worldwide were worth $157,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Otis Worldwide by 41.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,076,031 shares of the company's stock valued at $2,918,223,000 after acquiring an additional 8,161,946 shares in the last quarter. PFG Investments LLC raised its stake in shares of Otis Worldwide by 4.1% in the fourth quarter. PFG Investments LLC now owns 3,342 shares of the company's stock valued at $309,000 after purchasing an additional 131 shares in the last quarter. Blue Trust Inc. lifted its position in Otis Worldwide by 43.3% in the fourth quarter. Blue Trust Inc. now owns 4,452 shares of the company's stock worth $412,000 after purchasing an additional 1,345 shares during the period. R Squared Ltd acquired a new stake in Otis Worldwide during the fourth quarter worth $49,000. Finally, Hanson & Doremus Investment Management increased its holdings in Otis Worldwide by 15.8% in the 4th quarter. Hanson & Doremus Investment Management now owns 1,097 shares of the company's stock valued at $102,000 after buying an additional 150 shares during the period. 88.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on OTIS shares. Barclays reduced their price objective on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Otis Worldwide from $88.00 to $101.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company decreased their price objective on Otis Worldwide from $105.00 to $95.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Royal Bank of Canada dropped their target price on Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $100.71.

Insider Activity at Otis Worldwide

In related news, insider Montlivault Stephane De sold 6,660 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the sale, the insider now owns 63,931 shares of the company's stock, valued at $6,731,934.30. This trade represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

Otis Worldwide Stock Up 0.5%

NYSE:OTIS traded up $0.43 on Wednesday, reaching $95.32. The stock had a trading volume of 1,496,376 shares, compared to its average volume of 2,316,007. The company has a market capitalization of $37.62 billion, a P/E ratio of 23.48 and a beta of 1.01. The stock has a fifty day moving average price of $96.67 and a 200-day moving average price of $97.29. Otis Worldwide Co. has a 1-year low of $89.70 and a 1-year high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.91 by $0.01. Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the business earned $0.88 EPS. Otis Worldwide's revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Otis Worldwide Co. will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, May 16th. This is a positive change from Otis Worldwide's previous quarterly dividend of $0.39. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.76%. Otis Worldwide's dividend payout ratio (DPR) is 44.09%.

Otis Worldwide Company 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.