Mn Services Vermogensbeheer B.V. Has $16.32 Million Stock Holdings in Otis Worldwide Co. (NYSE:OTIS)

Mn Services Vermogensbeheer B.V. cut its position in shares of Otis Worldwide Co. (NYSE:OTIS) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 157,000 shares of the company’s stock after selling 3,900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Otis Worldwide were worth $16,319,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Hancock Whitney Corp increased its stake in shares of Otis Worldwide by 4.6% during the 1st 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 last quarter. Bleakley Financial Group LLC increased its position in Otis Worldwide by 1.2% during the first quarter. Bleakley Financial Group LLC now owns 9,726 shares of the company’s stock worth $965,000 after buying an additional 117 shares during the last quarter. Optas LLC increased its position in 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 buying an additional 118 shares during the last quarter. Brighton Jones LLC raised its holdings in Otis Worldwide by 5.0% during the second quarter. Brighton Jones LLC now owns 2,580 shares of the company’s stock valued at $248,000 after buying an additional 124 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Otis Worldwide by 0.9% in the second quarter. Park Avenue Securities LLC now owns 14,931 shares of the company’s stock worth $1,437,000 after buying an additional 127 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on OTIS. Morgan Stanley started coverage on Otis Worldwide in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Wells Fargo & Company dropped their price target on Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Barclays reduced their price objective on Otis Worldwide from $96.00 to $94.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a research report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $102.00.

Otis Worldwide Price Performance

NYSE OTIS opened at $99.44 on Tuesday. Otis Worldwide Co. has a twelve month low of $79.44 and a twelve month high of $106.33. The stock has a market cap of $39.83 billion, a P/E ratio of 24.80 and a beta of 1.04. The company’s 50-day simple moving average is $99.23 and its 200 day simple moving average is $96.94.

Otis Worldwide (NYSE:OTIS) last announced 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). The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. Research analysts anticipate that Otis Worldwide Co. will post 3.85 earnings per share for the current year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, November 15th. Otis Worldwide’s dividend payout ratio (DPR) is 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.