Otis Worldwide Corporation $OTIS Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 15.1% in the third quarter, HoldingsChannel reports. The firm owned 182,704 shares of the company’s stock after selling 32,516 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Otis Worldwide were worth $11,752,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Orion Capital Management LLC purchased a new position in shares of Otis Worldwide during the 2nd quarter valued at approximately $27,000. MidFirst Bank acquired a new stake in Otis Worldwide during the second quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Otis Worldwide during the second quarter valued at approximately $28,000. Elevation Wealth Partners LLC lifted its holdings in Otis Worldwide by 1,910.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after buying an additional 382 shares during the last quarter. Finally, Addison Advisors LLC bought a new position in Otis Worldwide during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on OTIS shares. Wells Fargo & Company initiated coverage on Otis Worldwide in a research report on Thursday, September 24th. They issued an “underweight” rating and a $77.00 target price for the company. Morgan Stanley set a $75.00 price target on Otis Worldwide in a research report on Monday, August 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Evercore reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $90.00 target price on shares of Otis Worldwide in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $91.00.

Otis Worldwide Trading Down 0.5%

OTIS opened at $75.22 on Friday. The company has a market cap of $28.63 billion, a P/E ratio of 19.34, a PEG ratio of 2.65 and a beta of 0.87. The company’s 50 day moving average is $69.34 and its 200-day moving average is $72.30. Otis Worldwide Corporation has a 1-year low of $63.58 and a 1-year high of $94.57.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.

About Otis Worldwide

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider for the elevator and escalator industry. The company designs, manufactures, installs, modernizes and maintains elevators, escalators and moving walkways for commercial buildings, residential developments, transportation hubs and other infrastructure projects.

Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.

The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.