Ellevest Inc. Sells 3,421 Shares of Otis Worldwide Corporation $OTIS

Ellevest Inc. decreased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 34.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,412 shares of the company’s stock after selling 3,421 shares during the quarter. Ellevest Inc.’s holdings in Otis Worldwide were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cheviot Value Management LLC bought a new stake in Otis Worldwide in the first quarter valued at approximately $31,000. Chilton Capital Management LLC bought a new stake in Otis Worldwide in the second quarter valued at approximately $31,000. Flaharty Asset Management LLC bought a new stake in Otis Worldwide in the first quarter valued at approximately $38,000. Toth Financial Advisory Corp bought a new stake in Otis Worldwide in the second quarter valued at approximately $45,000. Finally, Ransom Advisory Ltd bought a new stake in Otis Worldwide in the first quarter valued at approximately $48,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Otis Worldwide stock opened at $91.22 on Thursday. The stock’s fifty day moving average price is $89.98 and its two-hundred day moving average price is $92.87. Otis Worldwide Corporation has a one year low of $84.25 and a one year high of $106.83. The firm has a market cap of $35.55 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 3.46 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping 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 firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the company earned $0.96 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Sell-side analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.42 per share. 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 49.56%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OTIS shares. JPMorgan Chase & Co. upped their price objective on Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company increased their target price on Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. Wolfe Research set a $109.00 target price on Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus price target of $104.88.

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.