B. Metzler seel. Sohn & Co. AG Sells 197,819 Shares of Otis Worldwide Co. (NYSE:OTIS)

B. Metzler seel. Sohn & Co. AG trimmed its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 85.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 32,983 shares of the company’s stock after selling 197,819 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Otis Worldwide were worth $3,053,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Resonant Capital Advisors LLC raised its position in Otis Worldwide by 3.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 3,455 shares of the company’s stock valued at $320,000 after purchasing an additional 105 shares in the last quarter. Montis Financial LLC raised its holdings in shares of Otis Worldwide by 5.2% during the 4th quarter. Montis Financial LLC now owns 2,216 shares of the company’s stock worth $205,000 after buying an additional 110 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Otis Worldwide by 1.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 6,945 shares of the company’s stock worth $643,000 after buying an additional 114 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Otis Worldwide by 1.8% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 6,480 shares of the company’s stock valued at $600,000 after buying an additional 117 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its position in Otis Worldwide by 4.4% in the third quarter. Rehmann Capital Advisory Group now owns 2,867 shares of the company’s stock valued at $299,000 after acquiring an additional 122 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Judith Fran Marks sold 38,012 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $94.41, for a total transaction of $3,588,712.92. Following the sale, the chief executive officer now owns 245,883 shares in the company, valued at $23,213,814.03. This represents a 13.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Montlivault Stephane De sold 6,660 shares of Otis Worldwide stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the sale, the insider now owns 63,931 shares of the company’s stock, valued at approximately $6,731,934.30. The trade was a 9.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,281 shares of company stock valued at $10,747,553. 0.23% of the stock is currently owned by insiders.

Otis Worldwide Stock Up 0.8 %

NYSE OTIS opened at $104.01 on Wednesday. The company has a market capitalization of $41.24 billion, a price-to-earnings ratio of 25.62 and a beta of 1.05. Otis Worldwide Co. has a twelve month low of $90.12 and a twelve month high of $106.83. The stock has a fifty day simple moving average of $99.03 and a 200 day simple moving average of $98.86.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. Research analysts expect that Otis Worldwide Co. will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide announced that its board has approved a share repurchase program on Thursday, January 16th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, February 14th. Otis Worldwide’s dividend payout ratio is currently 38.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Wolfe Research cut shares of Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price on the stock. in a research note on Thursday, December 12th. JPMorgan Chase & Co. dropped their price target on Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Barclays boosted their price objective on Otis Worldwide from $91.00 to $92.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $103.00.

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.