Rep. Ritchie Torres Sells Off Shares of Otis Worldwide Corporation (NYSE:OTIS)

Representative Ritchie Torres (D-New York) recently sold shares of Otis Worldwide Corporation (NYSE:OTIS). In a filing disclosed on August 20th, the Representative disclosed that they had sold between $1,001 and $15,000 in Otis Worldwide stock on July 11th.

Representative Ritchie Torres also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Equinix (NASDAQ:EQIX) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of Equity Lifestyle Properties (NYSE:ELS) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of Northrop Grumman (NYSE:NOC) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of Emerson Electric (NYSE:EMR) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of Kinder Morgan (NYSE:KMI) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of MetLife (NYSE:MET) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of Oracle (NYSE:ORCL) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of Equity Residential (NYSE:EQR) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of McKesson (NYSE:MCK) on 7/11/2025.
• Sold $1,001 – $15,000 in shares of Ares Management (NYSE:ARES) on 7/11/2025.

Otis Worldwide Stock Down 1.9%

Shares of NYSE OTIS traded down $1.7050 during trading hours on Monday, hitting $86.8750. The company had a trading volume of 1,512,892 shares, compared to its average volume of 2,809,335. The stock has a market capitalization of $34.10 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83. The firm’s 50 day moving average is $93.42 and its 200-day moving average is $96.31.

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. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, sell-side analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 15th. Otis Worldwide’s dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Otis Worldwide from $109.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Barclays decreased their target price on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, July 24th. Royal Bank Of Canada decreased their target price on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft started coverage on Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 target price on the stock. Finally, Wells Fargo & Company lowered their price objective on Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.50.

Institutional Trading of Otis Worldwide

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Otis Worldwide in the second quarter valued at about $721,614,000. Marshall Wace LLP boosted its stake in Otis Worldwide by 5,291.5% in the second quarter. Marshall Wace LLP now owns 2,844,524 shares of the company’s stock valued at $281,665,000 after buying an additional 2,791,765 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Otis Worldwide by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock valued at $3,913,347,000 after buying an additional 2,396,134 shares in the last quarter. Vanguard Group Inc. boosted its stake in Otis Worldwide by 4.3% in the second quarter. Vanguard Group Inc. now owns 48,587,153 shares of the company’s stock valued at $4,811,100,000 after buying an additional 1,991,860 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Otis Worldwide in the second quarter valued at about $114,319,000. 88.03% of the stock is currently owned by institutional investors.

About Representative Torres

Ritchie Torres (Democratic Party) is a member of the U.S. House, representing New York’s 15th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.

Torres (Democratic Party) ran for re-election to the U.S. House to represent New York’s 15th Congressional District. He won in the general election on November 5, 2024.

Ritchie Torres lives in the Bronx, New York.

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.