Callan Family Office LLC Buys 5,212 Shares of Otis Worldwide Corporation $OTIS

Callan Family Office LLC lifted its stake in Otis Worldwide Corporation (NYSE:OTIS) by 153.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,619 shares of the company’s stock after purchasing an additional 5,212 shares during the quarter. Callan Family Office LLC’s holdings in Otis Worldwide were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Berkshire Money Management Inc. grew its stake in shares of Otis Worldwide by 5.0% in the second quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Otis Worldwide by 0.8% in the second quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock worth $1,374,000 after purchasing an additional 104 shares during the last quarter. PFG Investments LLC grew its stake in shares of Otis Worldwide by 3.7% in the second quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock worth $339,000 after purchasing an additional 121 shares during the last quarter. MSH Capital Advisors LLC grew its stake in shares of Otis Worldwide by 5.4% in the second quarter. MSH Capital Advisors LLC now owns 2,362 shares of the company’s stock worth $234,000 after purchasing an additional 122 shares during the last quarter. Finally, Bennett Selby Investments LP grew its stake in shares of Otis Worldwide by 6.0% in the second quarter. Bennett Selby Investments LP now owns 2,301 shares of the company’s stock worth $228,000 after purchasing an additional 130 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OTIS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 price target for the company. 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. Zacks Research downgraded Otis Worldwide from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a report on Wednesday, October 8th. Finally, Wolfe Research set a $109.00 price target on Otis Worldwide and gave the stock an “outperform” rating in a report on Wednesday. Three 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $103.88.

Otis Worldwide Price Performance

OTIS opened at $89.46 on Monday. The firm has a market capitalization of $35.11 billion, a PE ratio of 23.67, a P/E/G ratio of 3.51 and a beta of 1.00. Otis Worldwide Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $106.83. The company’s 50-day moving average is $88.52 and its 200 day moving average is $93.63.

Otis Worldwide (NYSE:OTIS) last posted 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 firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, analysts expect that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s dividend payout ratio (DPR) is 44.44%.

Otis Worldwide 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.