Mn Services Vermogensbeheer B.V. Lowers Position in Otis Worldwide Co. (NYSE:OTIS)

Mn Services Vermogensbeheer B.V. trimmed its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,800 shares of the company’s stock after selling 7,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Otis Worldwide were worth $17,250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of OTIS. Norges Bank purchased a new position in shares of Otis Worldwide in the fourth quarter valued at $370,013,000. Alliancebernstein L.P. grew its stake in shares of Otis Worldwide by 32.5% in the 2nd quarter. Alliancebernstein L.P. now owns 12,239,672 shares of the company’s stock worth $1,089,453,000 after buying an additional 2,999,494 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Otis Worldwide by 47.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,540,422 shares of the company’s stock valued at $605,571,000 after buying an additional 2,442,203 shares in the last quarter. PineStone Asset Management Inc. raised its position in shares of Otis Worldwide by 300.6% during the 3rd quarter. PineStone Asset Management Inc. now owns 2,844,325 shares of the company’s stock valued at $228,428,000 after buying an additional 2,134,289 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Otis Worldwide by 54.3% in the 1st quarter. Wellington Management Group LLP now owns 4,221,665 shares of the company’s stock valued at $324,857,000 after acquiring an additional 1,484,963 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OTIS has been the topic of a number of recent research reports. Melius began coverage on Otis Worldwide in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock. Argus raised shares of Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Thursday, February 22nd. UBS Group increased their target price on shares of Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Otis Worldwide in a research note on Monday, February 5th. Finally, Vertical Research lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average target price of $94.29.

Otis Worldwide Price Performance

Otis Worldwide stock opened at $96.16 on Monday. The stock has a market cap of $38.87 billion, a price-to-earnings ratio of 28.37 and a beta of 1.01. The firm has a 50-day moving average of $95.69 and a two-hundred day moving average of $88.42. Otis Worldwide Co. has a 1 year low of $73.32 and a 1 year high of $100.35.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company posted $0.75 EPS. Research analysts expect that Otis Worldwide Co. will post 3.87 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, February 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 40.12%.

Insiders Place Their Bets

In other news, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the sale, the insider now owns 67,274 shares in the company, valued at approximately $6,128,661.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the transaction, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.83, for a total transaction of $3,426,360.96. Following the sale, the chief executive officer now directly owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Otis Worldwide 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.