USS Investment Management Ltd Decreases Position in Otis Worldwide Co. (NYSE:OTIS)

USS Investment Management Ltd decreased its position in Otis Worldwide Co. (NYSE:OTIS - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,293,062 shares of the company's stock after selling 22,926 shares during the period. Otis Worldwide makes up 1.5% of USS Investment Management Ltd's holdings, making the stock its 14th biggest holding. USS Investment Management Ltd owned about 0.58% of Otis Worldwide worth $212,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OTIS. Transce3nd LLC bought a new stake in shares of Otis Worldwide during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in Otis Worldwide in the fourth quarter valued at about $28,000. Centricity Wealth Management LLC purchased a new position in Otis Worldwide in the fourth quarter valued at about $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter valued at approximately $34,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.03% of the company's stock.

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 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company's stock.

Otis Worldwide Trading Down 0.5%

Shares of NYSE:OTIS traded down $0.44 during trading on Friday, reaching $96.74. The company had a trading volume of 2,286,762 shares, compared to its average volume of 2,333,170. The company has a fifty day moving average of $97.72 and a two-hundred day moving average of $97.54. The stock has a market capitalization of $38.18 billion, a P/E ratio of 23.83 and a beta of 1.01. Otis Worldwide Co. has a 12 month low of $89.70 and a 12 month high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.92 EPS for the quarter, beating the consensus estimate 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 net margin of 11.53% and a negative return on equity of 31.76%. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. As a group, equities research analysts predict that Otis Worldwide Co. will post 4.04 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.74%. This is a boost from Otis Worldwide's previous quarterly dividend of $0.39. The ex-dividend date is Friday, May 16th. Otis Worldwide's dividend payout ratio (DPR) is currently 44.09%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OTIS shares. Royal Bank of Canada dropped their price target on shares of Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company dropped their price target on shares of 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. Barclays lowered their target price 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Otis Worldwide from $88.00 to $101.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $100.71.

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.