Ninety One North America Inc. Has $544,000 Stake in Otis Worldwide Corporation $OTIS

Ninety One North America Inc. decreased its stake in Otis Worldwide Corporation (NYSE:OTIS) by 15.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,494 shares of the company’s stock after selling 996 shares during the quarter. Ninety One North America Inc.’s holdings in Otis Worldwide were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Otis Worldwide in the first quarter valued at about $25,000. Wayfinding Financial LLC acquired a new position in Otis Worldwide in the first quarter valued at about $31,000. Cheviot Value Management LLC acquired a new position in Otis Worldwide in the first quarter valued at about $31,000. Flaharty Asset Management LLC acquired a new position in Otis Worldwide in the first quarter valued at about $38,000. Finally, Toth Financial Advisory Corp acquired a new position in Otis Worldwide in the second quarter valued at about $45,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $91.45 on Wednesday. The company has a market cap of $35.89 billion, a PE ratio of 24.19, a PEG ratio of 4.39 and a beta of 0.98. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83. The stock has a 50-day simple moving average of $87.96 and a 200 day simple moving average of $94.30.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The business 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%.Otis Worldwide’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, research analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.8%. Otis Worldwide’s dividend payout ratio (DPR) is presently 44.44%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OTIS shares. Wells Fargo & Company cut their target price on Otis Worldwide from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Morgan Stanley increased their price target on Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Barclays lowered their price target on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a report on Monday, July 14th. They issued a “hold” rating and a $109.00 price target for the company. Finally, Wolfe Research upgraded Otis Worldwide from an “underperform” rating to a “peer perform” rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $103.00.

About Otis Worldwide

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.