Westhampton Capital LLC Sells 162 Shares of Otis Worldwide Corporation $OTIS

Westhampton Capital LLC lowered its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,225 shares of the company’s stock after selling 162 shares during the quarter. Westhampton Capital LLC’s holdings in Otis Worldwide were worth $616,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in shares of Otis Worldwide in the first quarter valued at about $25,000. Wayfinding Financial LLC bought a new stake in Otis Worldwide during the first quarter worth about $31,000. Cheviot Value Management LLC bought a new stake in Otis Worldwide during the first quarter worth about $31,000. Flaharty Asset Management LLC bought a new position in shares of Otis Worldwide in the first quarter worth approximately $38,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Otis Worldwide in the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 1.0%

OTIS opened at $91.28 on Tuesday. The firm’s 50-day moving average price is $88.15 and its 200 day moving average price is $94.32. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The firm has a market capitalization of $35.82 billion, a PE ratio of 24.15, a PEG ratio of 4.35 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping 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 company 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 firm earned $1.06 earnings per share. Otis Worldwide’s quarterly 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, analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. Otis Worldwide’s payout ratio is 44.44%.

Wall Street Analyst Weigh In

A number of analysts have commented on OTIS shares. JPMorgan Chase & Co. upped their target price on shares of Otis Worldwide from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Royal Bank Of Canada dropped their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. Wells Fargo & Company dropped their price objective on shares of Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Otis Worldwide in a report on Monday, July 14th. They issued a “hold” rating and a $109.00 target price for the company. Finally, Barclays decreased their price objective on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, July 24th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $103.00.

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.