230,802 Shares in Otis Worldwide Co. (NYSE:OTIS) Acquired by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Otis Worldwide Co. (NYSE:OTIS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 230,802 shares of the company’s stock, valued at approximately $23,990,000. B. Metzler seel. Sohn & Co. Holding AG owned 0.06% of Otis Worldwide at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of Otis Worldwide by 12.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,247,918 shares of the company’s stock worth $793,945,000 after acquiring an additional 907,972 shares during the period. PineStone Asset Management Inc. lifted its stake in Otis Worldwide by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 4,464,131 shares of the company’s stock valued at $429,717,000 after buying an additional 2,590,780 shares during the period. Sarasin & Partners LLP lifted its stake in Otis Worldwide by 27.2% in the second quarter. Sarasin & Partners LLP now owns 4,135,271 shares of the company’s stock valued at $398,061,000 after buying an additional 883,659 shares during the period. Legal & General Group Plc lifted its stake in Otis Worldwide by 0.4% in the second quarter. Legal & General Group Plc now owns 3,660,401 shares of the company’s stock valued at $352,351,000 after buying an additional 15,021 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Otis Worldwide by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,523,091 shares of the company’s stock valued at $242,873,000 after buying an additional 101,955 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Trading Up 1.7 %

Shares of Otis Worldwide stock opened at $100.77 on Tuesday. The stock has a fifty day simple moving average of $100.59 and a 200 day simple moving average of $97.42. Otis Worldwide Co. has a 12-month low of $83.66 and a 12-month high of $106.33. The company has a market capitalization of $40.25 billion, a P/E ratio of 25.13 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company posted $0.95 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts predict that Otis Worldwide Co. will post 3.85 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 1.55%. Otis Worldwide’s dividend payout ratio is currently 38.90%.

Insiders Place Their Bets

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total value of $909,180.00. Following the transaction, the executive vice president now owns 9,992 shares of the company’s stock, valued at approximately $1,009,391.84. The trade was a 47.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 price target on shares of Otis Worldwide in a research note on Thursday, September 19th. UBS Group started coverage on Otis Worldwide in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 price target on the stock. Morgan Stanley started coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Barclays decreased their price objective on Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $104.57.

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.