2,440 Shares in Otis Worldwide Corporation $OTIS Acquired by 111 Capital

111 Capital acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,440 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NBC Securities Inc. purchased a new stake in shares of Otis Worldwide during the first quarter valued at $25,000. Wayfinding Financial LLC purchased a new position in Otis Worldwide in the 1st quarter worth about $31,000. Cheviot Value Management LLC bought a new stake in Otis Worldwide during the 1st quarter valued at about $31,000. Flaharty Asset Management LLC purchased a new stake in Otis Worldwide in the 1st quarter valued at about $38,000. Finally, Toth Financial Advisory Corp bought a new position in Otis Worldwide in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Analysts Set New Price Targets

OTIS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on Otis Worldwide in a report on Monday, July 14th. They issued a “hold” rating and a $109.00 price target for the company. Barclays lowered their target price on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, July 24th. Morgan Stanley raised their price target on Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their price objective on shares of Otis Worldwide from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Finally, Royal Bank Of Canada cut their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.25.

Otis Worldwide Price Performance

OTIS opened at $90.85 on Tuesday. The firm has a market capitalization of $35.66 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business’s 50-day moving average is $88.19 and its two-hundred day moving average is $93.97. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83.

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

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 15th. Otis Worldwide’s dividend payout ratio (DPR) is 44.44%.

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.