29,452 Shares in Otis Worldwide Corporation $OTIS Bought by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, Holdings Channel.com reports. The fund bought 29,452 shares of the company’s stock, valued at approximately $2,916,000.

A number of other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 2,396,134 shares during the period. Vanguard Group Inc. grew its holdings 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 during the period. Nuveen LLC acquired a new stake in Otis Worldwide in the first quarter worth $91,989,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 during the period. Finally, PineStone Asset Management Inc. grew its holdings in Otis Worldwide by 13.3% in the second quarter. PineStone Asset Management Inc. now owns 4,639,065 shares of the company’s stock worth $459,360,000 after purchasing an additional 543,933 shares during the period. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.3%

Otis Worldwide stock opened at $92.80 on Monday. The firm has a 50 day moving average price of $89.78 and a 200-day moving average price of $93.00. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The company has a market capitalization of $36.17 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.52 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.05. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the business posted $0.96 EPS. Otis Worldwide’s quarterly revenue was up 4.0% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. Otis Worldwide’s dividend payout ratio (DPR) is presently 49.56%.

Analysts Set New Price Targets

OTIS has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, July 28th. Wells Fargo & Company lifted their price objective on shares of Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.88.

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.