Banco Santander S.A. Has $9.08 Million Holdings in Otis Worldwide Co. (NYSE:OTIS)

Banco Santander S.A. decreased its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 54.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,369 shares of the company’s stock after selling 103,072 shares during the quarter. Banco Santander S.A.’s holdings in Otis Worldwide were worth $9,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. increased its stake in Otis Worldwide by 31.6% in the third quarter. Pacer Advisors Inc. now owns 71,444 shares of the company’s stock valued at $7,426,000 after acquiring an additional 17,175 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Otis Worldwide during the 3rd quarter worth approximately $676,000. Advisors Asset Management Inc. boosted its stake in Otis Worldwide by 3.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 9,173 shares of the company’s stock valued at $953,000 after purchasing an additional 318 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Otis Worldwide in the third quarter valued at about $297,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Otis Worldwide during the 3rd quarter valued at $23,990,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.5 %

Shares of NYSE:OTIS opened at $100.15 on Friday. Otis Worldwide Co. has a 52 week low of $83.99 and a 52 week high of $106.33. The company has a market cap of $40.00 billion, a PE ratio of 24.97 and a beta of 1.04. The company’s 50 day moving average is $101.05 and its two-hundred day moving average is $97.51.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The firm 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 business’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. As a group, equities research analysts expect that Otis Worldwide Co. will post 3.85 EPS for the current year.

Otis Worldwide Dividend Announcement

The company 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 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, November 15th. Otis Worldwide’s dividend payout ratio (DPR) is 38.90%.

Analyst Ratings Changes

OTIS has been the topic of several recent analyst reports. UBS Group assumed coverage on Otis Worldwide in a report on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 price target on the stock. Wells Fargo & Company decreased their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $110.00 target price on shares of Otis Worldwide in a research report on Thursday, September 19th. 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 target on the stock. Finally, Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $104.57.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $101.02, for a total value of $909,180.00. Following the completion of the sale, the executive vice president now directly owns 9,992 shares of the company’s stock, valued at approximately $1,009,391.84. This represents a 47.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.