B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Otis Worldwide Co. (NYSE:OTIS)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 230,802 shares of the company's stock, valued at approximately $23,990,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.06% of Otis Worldwide at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OTIS. Hancock Whitney Corp boosted its holdings in shares of Otis Worldwide by 4.6% during the first quarter. Hancock Whitney Corp now owns 2,549 shares of the company's stock worth $253,000 after purchasing an additional 111 shares during the period. Optas LLC boosted its holdings in shares of Otis Worldwide by 2.2% during the third quarter. Optas LLC now owns 5,522 shares of the company's stock worth $574,000 after purchasing an additional 118 shares during the period. Brighton Jones LLC boosted its holdings in shares of Otis Worldwide by 5.0% during the second quarter. Brighton Jones LLC now owns 2,580 shares of the company's stock worth $248,000 after purchasing an additional 124 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Otis Worldwide by 0.9% during the second quarter. Park Avenue Securities LLC now owns 14,931 shares of the company's stock worth $1,437,000 after purchasing an additional 127 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Otis Worldwide by 4.6% during the second quarter. Resonant Capital Advisors LLC now owns 3,426 shares of the company's stock worth $330,000 after purchasing an additional 150 shares during the period. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Down 0.5 %

OTIS stock traded down $0.49 during mid-day trading on Tuesday, hitting $100.28. The company had a trading volume of 1,754,470 shares, compared to its average volume of 2,111,993. The company has a market capitalization of $40.06 billion, a price-to-earnings ratio of 25.13 and a beta of 1.04. Otis Worldwide Co. has a 12-month low of $83.66 and a 12-month high of $106.33. The company has a 50-day moving average price of $100.59 and a 200 day moving average price of $97.42.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. The business's quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. As a group, analysts expect that Otis Worldwide Co. will post 3.85 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 1.56%. Otis Worldwide's payout ratio is 38.90%.

Analyst Upgrades and Downgrades

Several analysts have commented on OTIS shares. Morgan Stanley started coverage on shares of Otis Worldwide in a report on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price objective for the company. UBS Group started coverage on shares of Otis Worldwide in a report on Wednesday, November 13th. They issued a "neutral" rating and a $113.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Royal Bank of Canada restated an "outperform" rating and issued a $110.00 price objective on shares of Otis Worldwide in a report on Thursday, September 19th. Finally, Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Otis Worldwide presently has a consensus rating of "Hold" and an average target price of $104.57.

Insider Activity at Otis Worldwide

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $101.02, for a total value of $909,180.00. Following the transaction, the executive vice president now directly owns 9,992 shares in the company, valued at $1,009,391.84. This represents a 47.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

Otis Worldwide Company 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.