Retirement Planning Co of New England Inc. Purchases New Position in Otis Worldwide Corporation $OTIS

Retirement Planning Co of New England Inc. acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,160 shares of the company’s stock, valued at approximately $429,000.

Several other large investors have also recently bought and sold shares of OTIS. NBC Securities Inc. bought a new position in shares of Otis Worldwide during the first quarter worth $25,000. Wayfinding Financial LLC acquired a new stake in Otis Worldwide during the 1st quarter worth $31,000. Cheviot Value Management LLC acquired a new stake in Otis Worldwide during the 1st quarter worth $31,000. Orion Capital Management LLC bought a new position in Otis Worldwide during the fourth quarter worth about $35,000. Finally, Curat Global LLC acquired a new position in Otis Worldwide in the first quarter valued at about $61,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.2%

Shares of OTIS stock opened at $86.42 on Monday. Otis Worldwide Corporation has a 12 month low of $84.25 and a 12 month high of $106.83. The company’s fifty day simple moving average is $92.58 and its 200-day simple moving average is $95.98. The firm has a market cap of $33.92 billion, a PE ratio of 22.86, a P/E/G ratio of 4.16 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, equities analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on OTIS shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Otis Worldwide from $109.00 to $101.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Morgan Stanley raised their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Wolfe Research raised shares of Otis Worldwide from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 25th. Finally, Barclays lowered their target price on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus target price of $102.50.

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.