Otis Worldwide Corporation (NYSE:OTIS) Stock Holdings Cut by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in Otis Worldwide Corporation (NYSE:OTIS) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,442 shares of the company’s stock after selling 10,570 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Otis Worldwide worth $31,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Coldstream Capital Management Inc. boosted its stake in shares of Otis Worldwide by 4.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $249,000 after buying an additional 109 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Otis Worldwide by 15.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 828 shares of the company’s stock worth $85,000 after acquiring an additional 110 shares in the last quarter. AlTi Global Inc. boosted its position in Otis Worldwide by 4.9% during the fourth quarter. AlTi Global Inc. now owns 2,404 shares of the company’s stock valued at $223,000 after purchasing an additional 113 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its stake in Otis Worldwide by 6.9% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 2,247 shares of the company’s stock valued at $208,000 after purchasing an additional 145 shares in the last quarter. Finally, Graypoint LLC increased its position in Otis Worldwide by 3.4% in the 1st quarter. Graypoint LLC now owns 4,414 shares of the company’s stock worth $456,000 after purchasing an additional 147 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on OTIS. JPMorgan Chase & Co. raised Otis Worldwide from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $101.00 to $109.00 in a research report on Tuesday, July 15th. Wells Fargo & Company lifted their price target on shares of Otis Worldwide from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Otis Worldwide in a research note on Monday, July 14th. They issued a “hold” rating and a $109.00 price objective for the company. Morgan Stanley upped their target price on shares of Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada dropped their price target on shares of Otis Worldwide from $109.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and a consensus price target of $104.63.

Otis Worldwide Trading Down 12.3%

Shares of OTIS stock opened at $88.58 on Thursday. Otis Worldwide Corporation has a 1-year low of $86.00 and a 1-year high of $106.83. The stock has a 50-day moving average of $97.32 and a 200-day moving average of $97.28. The stock has a market cap of $34.96 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.72 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Otis Worldwide had a negative return on equity of 31.72% and a net margin of 10.83%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the company posted $1.06 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

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.