Universal Beteiligungs und Servicegesellschaft mbH Cuts Stock Position in Otis Worldwide Corporation $OTIS

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 15.5% in the third quarter, Holdings Channel reports. The institutional investor owned 236,754 shares of the company’s stock after selling 43,521 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Otis Worldwide were worth $21,646,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new stake in shares of Otis Worldwide in the third quarter worth $26,000. Chilton Capital Management LLC bought a new position in Otis Worldwide in the 2nd quarter worth about $31,000. Nemes Rush Group LLC grew its position in Otis Worldwide by 75.4% during the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. MTM Investment Management LLC purchased a new stake in Otis Worldwide during the 2nd quarter valued at about $40,000. Finally, Quaker Wealth Management LLC increased its stake in Otis Worldwide by 199.6% during the 2nd quarter. Quaker Wealth Management LLC now owns 505 shares of the company’s stock valued at $50,000 after purchasing an additional 1,012 shares in the last quarter. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Trading Up 0.8%

Shares of OTIS stock opened at $90.24 on Friday. The stock 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 firm’s 50 day moving average is $88.25 and its 200 day moving average is $89.78. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83.

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

Otis Worldwide Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the transaction, the chief accounting officer owned 2,628 shares in the company, 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 through this hyperlink. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OTIS. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Monday, December 15th. Barclays upped their price objective on Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their target price on Otis Worldwide from $111.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $104.13.

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.