Otis Worldwide Co. (NYSE:OTIS) Shares Sold by Schnieders Capital Management LLC

Schnieders Capital Management LLC trimmed its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 25.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,144 shares of the company’s stock after selling 1,378 shares during the quarter. Schnieders Capital Management LLC’s holdings in Otis Worldwide were worth $371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTIS. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Otis Worldwide by 54.5% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,772 shares of the company’s stock worth $544,000 after acquiring an additional 2,390 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Otis Worldwide by 13,638.0% during the 4th quarter. International Assets Investment Management LLC now owns 151,667 shares of the company’s stock worth $13,570,000 after acquiring an additional 150,563 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Otis Worldwide by 176.4% during the 4th quarter. SG Americas Securities LLC now owns 115,993 shares of the company’s stock worth $10,378,000 after acquiring an additional 74,030 shares in the last quarter. Smith Salley & Associates purchased a new stake in shares of Otis Worldwide in the 4th quarter valued at about $1,113,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Otis Worldwide by 29.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 135,428 shares of the company’s stock valued at $12,117,000 after purchasing an additional 30,530 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on OTIS. UBS Group boosted their target price on Otis Worldwide from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Argus raised Otis Worldwide from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Thursday, February 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Otis Worldwide in a report on Monday, February 5th. Melius began coverage on Otis Worldwide in a report on Tuesday, April 2nd. They issued a “hold” rating for the company. Finally, Wells Fargo & Company reduced their target price on Otis Worldwide from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

Otis Worldwide Stock Down 4.2 %

OTIS traded down $4.10 on Wednesday, hitting $93.37. 4,222,486 shares of the company traded hands, compared to its average volume of 2,015,561. The company has a 50 day moving average of $96.36 and a 200-day moving average of $89.21. The stock has a market capitalization of $37.74 billion, a PE ratio of 28.75 and a beta of 1.01. Otis Worldwide Co. has a 12-month low of $73.32 and a 12-month high of $100.35.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Otis Worldwide had a negative return on equity of 30.75% and a net margin of 9.90%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the company posted $0.75 EPS. On average, research analysts anticipate that Otis Worldwide Co. will post 3.87 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Thursday, February 15th. Otis Worldwide’s dividend payout ratio (DPR) is currently 40.12%.

Insider Buying and Selling

In other Otis Worldwide news, insider Montlivault Stephane De sold 18,393 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the transaction, the insider now directly owns 67,274 shares of the company’s stock, valued at $6,128,661.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Montlivault Stephane De sold 18,393 shares of Otis Worldwide stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $91.10, for a total value of $1,675,602.30. Following the completion of the transaction, the insider now directly owns 67,274 shares in the company, valued at $6,128,661.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Judith Fran Marks sold 37,312 shares of Otis Worldwide stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.83, for a total value of $3,426,360.96. Following the completion of the transaction, the chief executive officer now owns 192,319 shares of the company’s stock, valued at $17,660,653.77. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

About Otis Worldwide

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.