Universal Beteiligungs und Servicegesellschaft mbH Sells 43,521 Shares of Otis Worldwide Corporation $OTIS

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in Otis Worldwide Corporation (NYSE:OTIS) by 15.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 236,754 shares of the company’s stock after selling 43,521 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Otis Worldwide worth $21,646,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Otis Worldwide in the second quarter valued at approximately $721,614,000. Marshall Wace LLP increased its stake in shares of Otis Worldwide by 5,291.5% in the second quarter. Marshall Wace LLP now owns 2,844,524 shares of the company’s stock worth $281,665,000 after buying an additional 2,791,765 shares during the period. Vanguard Group Inc. boosted its position in Otis Worldwide by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,587,153 shares of the company’s stock valued at $4,811,100,000 after buying an additional 1,991,860 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Otis Worldwide during the 2nd quarter valued at $114,319,000. Finally, Canoe Financial LP increased its position in shares of Otis Worldwide by 64.0% in the third quarter. Canoe Financial LP now owns 2,411,956 shares of the company’s stock valued at $220,525,000 after acquiring an additional 940,862 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the completion of the transaction, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at $240,961.32. This trade represents a 53.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OTIS. Barclays increased their target price on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Wolfe Research set a $109.00 price objective on Otis Worldwide and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price target on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.13.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $90.24 on Friday. The firm has a market capitalization of $35.17 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.63 and a beta of 1.02. The stock has a 50 day moving average price of $88.25 and a 200-day moving average price of $89.78. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.05. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Otis Worldwide had a negative return on equity of 30.67% and a net margin of 9.41%.The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. Otis Worldwide’s dividend payout ratio is currently 49.56%.

About Otis Worldwide

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.