318,012 Shares in Otis Worldwide Co. (NYSE:OTIS) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 318,012 shares of the company's stock, valued at approximately $29,451,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Otis Worldwide as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Otis Worldwide by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 45,003,843 shares of the company's stock valued at $4,167,806,000 after acquiring an additional 149,123 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Otis Worldwide by 26.5% during the fourth quarter. JPMorgan Chase & Co. now owns 35,523,891 shares of the company's stock valued at $3,289,868,000 after acquiring an additional 7,447,860 shares during the period. Geode Capital Management LLC lifted its stake in shares of Otis Worldwide by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 11,126,735 shares of the company's stock valued at $1,031,787,000 after acquiring an additional 95,035 shares during the period. Franklin Resources Inc. lifted its stake in shares of Otis Worldwide by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 7,785,116 shares of the company's stock valued at $720,980,000 after acquiring an additional 435,372 shares during the period. Finally, Norges Bank acquired a new position in shares of Otis Worldwide during the fourth quarter valued at $649,883,000. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Stock Performance

NYSE:OTIS traded down $1.13 during mid-day trading on Monday, hitting $94.22. The company had a trading volume of 2,208,349 shares, compared to its average volume of 2,318,697. Otis Worldwide Co. has a fifty-two week low of $89.70 and a fifty-two week high of $106.83. The business's fifty day moving average is $96.97 and its two-hundred day moving average is $97.32. The firm has a market cap of $37.19 billion, a P/E ratio of 23.21 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.01. The company had revenue of $3.35 billion for 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%. Otis Worldwide's revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Equities analysts forecast that Otis Worldwide Co. will post 4.04 earnings per share 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.78%. 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%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Otis Worldwide

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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by insiders.

About Otis Worldwide

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.