Universal Beteiligungs und Servicegesellschaft mbH Makes New $29.45 Million Investment in Otis Worldwide Co. (NYSE:OTIS)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 318,012 shares of the company's stock, valued at approximately $29,451,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Otis Worldwide at the end of the most recent reporting period.

Other large investors have 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 valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new position in Otis Worldwide during the 4th quarter valued at $28,000. Centricity Wealth Management LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $33,000. Golden State Wealth Management LLC bought a new stake in shares of Otis Worldwide in the 4th quarter worth about $34,000. Finally, Flagship Wealth Advisors LLC bought a new stake in Otis Worldwide during the 4th quarter worth about $34,000. 88.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Otis Worldwide Trading Up 0.2%

NYSE OTIS traded up $0.20 during mid-day trading on Friday, hitting $95.36. The company's stock had a trading volume of 3,846,113 shares, compared to its average volume of 2,338,427. The firm has a market capitalization of $37.64 billion, a price-to-earnings ratio of 23.49 and a beta of 1.01. The company's 50 day simple moving average is $97.14 and its 200 day simple moving average is $97.40. Otis Worldwide Co. has a twelve month low of $89.70 and a twelve month high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced 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. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. As a group, research analysts forecast that Otis Worldwide Co. will post 4.04 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from Otis Worldwide's previous quarterly dividend of $0.39. Otis Worldwide's dividend payout ratio (DPR) is 44.09%.

Analysts Set New Price Targets

Several research firms recently weighed in on OTIS. Barclays reduced their price objective on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Otis Worldwide from $88.00 to $101.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Royal Bank of Canada dropped their target price 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, Wells Fargo & Company dropped their target price 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $100.71.

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.