Campbell & CO Investment Adviser LLC Purchases New Holdings in Otis Worldwide Corporation $OTIS

Campbell & CO Investment Adviser LLC purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,196 shares of the company’s stock, valued at approximately $2,396,000.

A number of other institutional investors and hedge funds have also modified their holdings of OTIS. Berkshire Money Management Inc. lifted its position in Otis Worldwide by 5.0% in the second quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Otis Worldwide by 0.8% during the 2nd quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock worth $1,374,000 after acquiring an additional 104 shares during the period. PFG Investments LLC boosted its position in shares of Otis Worldwide by 3.7% during the 2nd quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock valued at $339,000 after acquiring an additional 121 shares in the last quarter. MSH Capital Advisors LLC increased its stake in Otis Worldwide by 5.4% in the second quarter. MSH Capital Advisors LLC now owns 2,362 shares of the company’s stock valued at $234,000 after acquiring an additional 122 shares during the period. Finally, Bennett Selby Investments LP raised its position in Otis Worldwide by 6.0% in the second quarter. Bennett Selby Investments LP now owns 2,301 shares of the company’s stock worth $228,000 after purchasing an additional 130 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OTIS. Deutsche Bank Aktiengesellschaft started coverage on Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Royal Bank Of Canada lowered their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus target price of $104.88.

Insider Activity at Otis Worldwide

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

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $91.09 on Monday. The stock’s fifty day moving average is $90.17 and its 200-day moving average is $92.78. The stock has a market capitalization of $35.50 billion, a PE ratio of 26.87, a PEG ratio of 3.47 and a beta of 1.00. 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter 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. As a group, analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, November 14th. Otis Worldwide’s dividend payout ratio (DPR) 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.