MASTERINVEST Kapitalanlage GmbH Takes Position in Otis Worldwide Corporation $OTIS

MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,414 shares of the company’s stock, valued at approximately $734,000.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Otis Worldwide by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,587,153 shares of the company’s stock valued at $4,811,100,000 after acquiring an additional 1,991,860 shares during the period. Alliancebernstein L.P. raised its stake in shares of Otis Worldwide by 3.2% during the 2nd quarter. Alliancebernstein L.P. now owns 19,378,760 shares of the company’s stock valued at $1,918,885,000 after purchasing an additional 603,860 shares during the period. Geode Capital Management LLC raised its stake in shares of Otis Worldwide by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 10,673,127 shares of the company’s stock valued at $1,057,594,000 after purchasing an additional 129,458 shares during the period. Norges Bank purchased a new stake in Otis Worldwide during the 2nd quarter worth about $721,614,000. Finally, PineStone Asset Management Inc. boosted its stake in Otis Worldwide by 13.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,639,065 shares of the company’s stock worth $459,360,000 after purchasing an additional 543,933 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Otis Worldwide

In related news, CAO Michael Patrick Ryan sold 3,028 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $91.69, for a total transaction of $277,637.32. Following the transaction, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at approximately $240,961.32. This trade represents a 53.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

Otis Worldwide Price Performance

OTIS stock opened at $88.13 on Monday. The firm has a 50 day simple moving average of $89.68 and a two-hundred day simple moving average of $91.28. The stock has a market cap of $34.35 billion, a PE ratio of 26.00, a P/E/G ratio of 3.36 and a beta of 1.01. Otis Worldwide Corporation has a one year low of $84.25 and a one year high of $106.83.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the firm posted $0.96 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, research analysts expect that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, November 14th. Otis Worldwide’s dividend payout ratio is presently 49.56%.

Analyst Upgrades and Downgrades

OTIS has been the topic of several analyst reports. Wolfe Research set a $109.00 price target on Otis Worldwide and gave the company an “outperform” rating in a research report on Wednesday, October 8th. BNP Paribas raised shares of Otis Worldwide from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Wells Fargo & Company raised their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Wall Street Zen upgraded shares of Otis Worldwide from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. increased their price objective on Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $103.88.

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.