Farmers & Merchants Investments Inc. Raises Stock Holdings in Otis Worldwide Corporation $OTIS

Farmers & Merchants Investments Inc. lifted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 6.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 44,345 shares of the company’s stock after purchasing an additional 2,861 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Otis Worldwide were worth $4,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OTIS. JPMorgan Chase & Co. raised its holdings in shares of Otis Worldwide by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock worth $3,913,347,000 after buying an additional 2,396,134 shares during the period. Vanguard Group Inc. grew its stake in Otis Worldwide by 3.5% in the first quarter. Vanguard Group Inc. now owns 46,595,293 shares of the company’s stock worth $4,808,634,000 after purchasing an additional 1,591,450 shares in the last quarter. Nuveen LLC bought a new position in Otis Worldwide in the first quarter worth approximately $91,989,000. GAMMA Investing LLC grew its stake in Otis Worldwide by 12,162.8% in the first quarter. GAMMA Investing LLC now owns 820,750 shares of the company’s stock worth $84,701,000 after purchasing an additional 814,057 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Otis Worldwide by 16.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,138,076 shares of the company’s stock worth $427,049,000 after purchasing an additional 571,489 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a research note on Monday, July 14th. They issued a “hold” rating and a $109.00 price objective on the stock. Morgan Stanley increased their price objective on Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Barclays dropped their price objective on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a research note on Thursday, July 24th. Royal Bank Of Canada dropped their price objective on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Finally, Wells Fargo & Company dropped their target price on Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Otis Worldwide currently has an average rating of “Hold” and an average price target of $103.00.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $89.43 on Tuesday. The firm has a market capitalization of $35.10 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 4.29 and a beta of 0.98. The business has a fifty day moving average of $89.15 and a 200 day moving average of $94.71. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Otis Worldwide’s dividend payout ratio (DPR) is 44.44%.

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.