Achmea Investment Management B.V. Has $5 Million Position in Otis Worldwide Co. (NYSE:OTIS)

Achmea Investment Management B.V. lowered its stake in shares of Otis Worldwide Co. (NYSE:OTIS) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,018 shares of the company’s stock after selling 312 shares during the period. Achmea Investment Management B.V.’s holdings in Otis Worldwide were worth $5,003,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OTIS. Ashton Thomas Securities LLC acquired a new stake in shares of Otis Worldwide in the 3rd quarter valued at $29,000. Fortitude Family Office LLC lifted its stake in shares of Otis Worldwide by 485.5% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at $34,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Otis Worldwide in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their target price on shares of Otis Worldwide from $100.00 to $95.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. Wolfe Research downgraded 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 report on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Otis Worldwide from $108.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have assigned 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 price target of $102.88.

Insider Transactions at Otis Worldwide

In other news, CEO Judith Fran Marks sold 38,012 shares of Otis Worldwide stock in a transaction dated Wednesday, February 5th. The shares were 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 directly owns 245,883 shares in the company, valued at approximately $23,213,814.03. The trade was a 13.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Montlivault Stephane De sold 6,660 shares of Otis Worldwide stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $105.30, for a total transaction of $701,298.00. Following the sale, the insider now owns 63,931 shares in the company, valued at approximately $6,731,934.30. This trade represents a 9.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,281 shares of company stock worth $10,747,553. 0.23% of the stock is currently owned by company insiders.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $100.69 on Friday. The firm’s 50-day moving average is $96.73 and its 200-day moving average is $98.04. Otis Worldwide Co. has a 52-week low of $90.12 and a 52-week high of $106.83. The company has a market cap of $39.93 billion, a price-to-earnings ratio of 24.80 and a beta of 1.05.

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

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 1.55%. Otis Worldwide’s payout ratio is 38.42%.

Otis Worldwide declared that its board has approved a share buyback plan on Thursday, January 16th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.