Journey Strategic Wealth LLC Has $508,000 Position in Otis Worldwide Corporation $OTIS

Journey Strategic Wealth LLC grew its stake in Otis Worldwide Corporation (NYSE:OTIS) by 100.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,132 shares of the company’s stock after acquiring an additional 2,566 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Otis Worldwide were worth $508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cheviot Value Management LLC acquired a new position in Otis Worldwide during the first quarter valued at approximately $31,000. Chilton Capital Management LLC bought a new position in shares of Otis Worldwide during the second quarter worth $31,000. Flaharty Asset Management LLC bought a new position in shares of Otis Worldwide during the first quarter worth $38,000. MTM Investment Management LLC acquired a new position in shares of Otis Worldwide in the 2nd quarter valued at $40,000. Finally, Toth Financial Advisory Corp bought a new stake in shares of Otis Worldwide in the 2nd quarter valued at $45,000. Institutional investors own 88.03% of the company’s stock.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total value of $277,637.32. Following the sale, the chief accounting officer directly owned 2,628 shares in the company, valued at approximately $240,961.32. The trade was a 53.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock opened at $88.02 on Friday. The firm has a market cap of $34.30 billion, a PE ratio of 25.96, a P/E/G ratio of 3.36 and a beta of 1.00. The business’s 50 day simple moving average is $90.48 and its 200 day simple moving average is $92.34. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83.

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

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Otis Worldwide’s dividend payout ratio (DPR) is 49.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OTIS. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wolfe Research set a $109.00 price target on Otis Worldwide and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada lowered their target price on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, July 28th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Otis Worldwide currently has an average rating of “Hold” and an average price target of $103.71.

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.