AdviceOne Advisory Services LLC Acquires 927 Shares of Otis Worldwide Corporation $OTIS

AdviceOne Advisory Services LLC raised its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,049 shares of the company’s stock after purchasing an additional 927 shares during the quarter. Otis Worldwide accounts for approximately 10.5% of AdviceOne Advisory Services LLC’s investment portfolio, making the stock its 3rd biggest position. AdviceOne Advisory Services LLC’s holdings in Otis Worldwide were worth $14,165,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Berkshire Money Management Inc. lifted its stake in shares of Otis Worldwide by 5.0% in the 2nd quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Otis Worldwide by 0.8% in the 2nd quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock valued at $1,374,000 after acquiring an additional 104 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Otis Worldwide by 3.7% in 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 during the last quarter. MSH Capital Advisors LLC lifted its stake in shares of Otis Worldwide by 5.4% in the 2nd 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 last quarter. Finally, Bennett Selby Investments LP lifted its stake in shares of Otis Worldwide by 6.0% in the 2nd quarter. Bennett Selby Investments LP now owns 2,301 shares of the company’s stock valued at $228,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Down 0.3%

Shares of NYSE:OTIS opened at $89.46 on Friday. The business has a fifty day simple moving average of $88.52 and a 200 day simple moving average of $93.70. 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 $35.11 billion, a P/E ratio of 23.67, a P/E/G ratio of 3.51 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the business posted $1.06 EPS. The business’s revenue was down .2% compared to the same quarter last year. 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 EPS for the current year.

Otis Worldwide Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on OTIS. Morgan Stanley increased their price target on Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday. Wells Fargo & Company raised their target price on Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. 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 report on Monday, July 28th. Finally, JPMorgan Chase & Co. raised their target price on Otis Worldwide from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and a consensus 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.