Aberdeen Group plc Acquires 13,614 Shares of Otis Worldwide Corporation $OTIS

Aberdeen Group plc lifted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,464 shares of the company’s stock after purchasing an additional 13,614 shares during the quarter. Aberdeen Group plc owned 0.08% of Otis Worldwide worth $33,020,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Otis Worldwide in the first quarter worth $2,533,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Otis Worldwide in the first quarter worth $225,000. Sowell Financial Services LLC bought a new stake in shares of Otis Worldwide in the first quarter worth $291,000. CWA Asset Management Group LLC bought a new stake in Otis Worldwide during the first quarter worth $262,000. Finally, JPMorgan Chase & Co. raised its position in Otis Worldwide by 6.7% during the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock worth $3,913,347,000 after acquiring an additional 2,396,134 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

NYSE:OTIS opened at $89.46 on Monday. Otis Worldwide Corporation has a one year low of $84.25 and a one year high of $106.83. The company has a market cap of $35.11 billion, a P/E ratio of 23.67, a P/E/G ratio of 3.51 and a beta of 1.00. The firm’s fifty day moving average price is $88.52 and its two-hundred day moving average price is $93.63.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Otis Worldwide’s dividend payout ratio is 44.44%.

Analyst Upgrades and Downgrades

OTIS has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Otis Worldwide from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Zacks Research lowered shares of Otis Worldwide from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company upped their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $103.88.

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.