Robeco Institutional Asset Management B.V. Sells 23,033 Shares of Otis Worldwide Co. (NYSE:OTIS)

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Otis Worldwide Co. (NYSE:OTIS - Free Report) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,499 shares of the company's stock after selling 23,033 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Otis Worldwide were worth $19,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Riverview Trust Co purchased a new stake in shares of Otis Worldwide during the 3rd quarter worth $25,000. Meeder Asset Management Inc. lifted its stake in Otis Worldwide by 264.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 270 shares of the company's stock valued at $26,000 after buying an additional 196 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its position in Otis Worldwide by 5,720.0% during the second quarter. Jamison Private Wealth Management Inc. now owns 291 shares of the company's stock worth $28,000 after acquiring an additional 286 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of Otis Worldwide by 675.7% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 287 shares of the company's stock worth $28,000 after acquiring an additional 250 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in Otis Worldwide in the 3rd quarter valued at $28,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OTIS. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. Wolfe Research lowered Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Tuesday, October 8th. Barclays lowered their target price on shares of Otis Worldwide from $96.00 to $94.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Morgan Stanley began coverage on Otis Worldwide in a research report on Friday, September 6th. They set an "equal weight" rating and a $97.00 target price for the company. Finally, Wells Fargo & Company cut their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $102.00.

Otis Worldwide Trading Up 0.8 %

Shares of Otis Worldwide stock traded up $0.77 during trading hours on Thursday, reaching $101.33. 1,004,173 shares of the company's stock were exchanged, compared to its average volume of 2,110,676. Otis Worldwide Co. has a fifty-two week low of $79.73 and a fifty-two week high of $106.33. The company has a 50 day moving average of $99.37 and a two-hundred day moving average of $96.98. The stock has a market cap of $40.48 billion, a P/E ratio of 25.08 and a beta of 1.04.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.96 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 business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business's revenue was up .7% compared to the same quarter last year. As a group, analysts expect that Otis Worldwide Co. will post 3.86 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.54%. Otis Worldwide's dividend payout ratio (DPR) is presently 38.90%.

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.