UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 316,890 Shares of Otis Worldwide Co. (NYSE:OTIS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) by 9.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,602,727 shares of the company's stock after buying an additional 316,890 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.91% of Otis Worldwide worth $333,649,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Waverly Advisors LLC acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at $404,000. iSAM Funds UK Ltd lifted its position in shares of Otis Worldwide by 112.9% in the fourth quarter. iSAM Funds UK Ltd now owns 10,309 shares of the company's stock worth $955,000 after buying an additional 5,466 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Otis Worldwide by 14.4% during the 4th quarter. Vident Advisory LLC now owns 8,096 shares of the company's stock worth $750,000 after acquiring an additional 1,022 shares in the last quarter. Sone Capital Management LLC acquired a new position in shares of Otis Worldwide during the 4th quarter valued at about $4,620,000. Finally, Spurstone Advisory Services LLC bought a new position in shares of Otis Worldwide in the 4th quarter valued at approximately $93,000. Institutional investors and hedge funds own 88.03% of the company's stock.

Insiders Place Their Bets

In other news, insider Montlivault Stephane De sold 6,660 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $105.30, for a total transaction of $701,298.00. Following the transaction, the insider now directly owns 63,931 shares of the company's stock, valued at approximately $6,731,934.30. This trade represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

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

Otis Worldwide Trading Down 0.3%

Otis Worldwide stock traded down $0.27 during mid-day trading on Tuesday, reaching $96.51. The company had a trading volume of 598,849 shares, compared to its average volume of 2,326,507. The company has a market cap of $38.09 billion, a P/E ratio of 23.77 and a beta of 1.01. The business has a fifty day simple moving average of $97.60 and a 200 day simple moving average of $97.49. Otis Worldwide Co. has a fifty-two week low of $89.70 and a fifty-two week high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the company posted $0.88 earnings per share. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts forecast that Otis Worldwide Co. will post 4.04 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.74%. 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. Otis Worldwide's dividend payout ratio (DPR) is currently 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.