Ellevest Inc. Has $635,000 Stake in Otis Worldwide Corporation $OTIS

Ellevest Inc. trimmed its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 34.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,412 shares of the company’s stock after selling 3,421 shares during the period. Ellevest Inc.’s holdings in Otis Worldwide were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OTIS. Cheviot Value Management LLC acquired a new position in Otis Worldwide in the first quarter valued at about $31,000. Chilton Capital Management LLC acquired a new position in Otis Worldwide in the second quarter valued at about $31,000. Flaharty Asset Management LLC bought a new stake in shares of Otis Worldwide in the first quarter valued at about $38,000. Toth Financial Advisory Corp bought a new stake in shares of Otis Worldwide in the second quarter valued at about $45,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Otis Worldwide in the first quarter valued at about $48,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada cut their price target on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Wells Fargo & Company boosted their price target on 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 restated a “hold (c+)” rating on shares of Otis Worldwide in a report on Wednesday, October 8th. Wolfe Research set a $109.00 price target on Otis Worldwide and gave the company an “outperform” rating in a report on Wednesday, October 8th. Finally, Barclays boosted their price target on Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and an average price target of $104.88.

Otis Worldwide Stock Performance

OTIS opened at $91.22 on Thursday. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83. The firm has a market capitalization of $35.55 billion, a PE ratio of 26.91, a PEG ratio of 3.46 and a beta of 1.00. The business’s 50-day simple moving average is $89.98 and its 200 day simple moving average is $92.87.

Otis Worldwide (NYSE:OTIS) last released its 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 negative return on equity of 30.67% and a net margin of 9.41%.The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Otis Worldwide’s revenue was up 4.0% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, research analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

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

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.