DMKC Advisory Services LLC Purchases 1,958 Shares of Otis Worldwide Corporation $OTIS

DMKC Advisory Services LLC increased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 9.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,321 shares of the company’s stock after buying an additional 1,958 shares during the period. DMKC Advisory Services LLC’s holdings in Otis Worldwide were worth $2,256,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Pure Financial Advisors LLC increased its stake in Otis Worldwide by 9.3% in the 2nd quarter. Pure Financial Advisors LLC now owns 2,132 shares of the company’s stock worth $211,000 after acquiring an additional 181 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Otis Worldwide by 3.2% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 10,229 shares of the company’s stock worth $1,013,000 after purchasing an additional 320 shares in the last quarter. PFG Investments LLC lifted its position in Otis Worldwide by 3.7% during the second quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock valued at $339,000 after purchasing an additional 121 shares during the last quarter. Liberty Capital Management Inc. lifted its position in Otis Worldwide by 14.7% during the second quarter. Liberty Capital Management Inc. now owns 31,143 shares of the company’s stock valued at $3,084,000 after purchasing an additional 3,991 shares during the last quarter. Finally, Chicago Capital LLC lifted its position in Otis Worldwide by 21.1% during the second quarter. Chicago Capital LLC now owns 16,781 shares of the company’s stock valued at $1,662,000 after purchasing an additional 2,920 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Stock Up 1.0%

NYSE OTIS opened at $92.36 on Thursday. The company has a 50-day simple moving average of $88.03 and a two-hundred day simple moving average of $94.29. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 4.40 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last released its 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 negative return on equity of 30.95% and a net margin of 10.68%.The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the company posted $1.06 EPS. Otis Worldwide’s revenue for the quarter was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a research 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 report on Tuesday, July 8th. Wolfe Research upgraded Otis Worldwide from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 25th. Wells Fargo & Company cut their price objective on Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Finally, 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 objective for the company. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus target price of $103.00.

About Otis Worldwide

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.