Atria Investments Inc Sells 1,989 Shares of Otis Worldwide Corporation $OTIS

Atria Investments Inc lessened its stake in shares of Otis Worldwide Corporation (NYSE:OTIS) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,942 shares of the company’s stock after selling 1,989 shares during the quarter. Atria Investments Inc’s holdings in Otis Worldwide were worth $1,182,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its stake in shares of Otis Worldwide by 80.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,581 shares of the company’s stock valued at $679,000 after purchasing an additional 2,942 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Otis Worldwide by 3.0% during the 1st quarter. TD Private Client Wealth LLC now owns 7,614 shares of the company’s stock valued at $786,000 after purchasing an additional 220 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Otis Worldwide in the first quarter valued at about $241,000. Personal CFO Solutions LLC bought a new stake in Otis Worldwide during the first quarter worth about $223,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Otis Worldwide by 2.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 162,726 shares of the company’s stock worth $16,443,000 after buying an additional 4,158 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Down 0.1%

Otis Worldwide stock opened at $91.17 on Friday. The business’s 50-day simple moving average is $90.07 and its 200 day simple moving average is $92.86. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 3.48 and a beta of 1.00. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.65 billion. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. As a group, sell-side 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 will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. Otis Worldwide’s dividend payout ratio (DPR) is presently 49.56%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OTIS. Royal Bank Of Canada reduced their target price on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Wells Fargo & Company lifted their price objective on Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Barclays increased their target price on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft began coverage on Otis Worldwide in a research note on Monday, July 14th. They issued a “hold” rating and a $109.00 target price for the company. Finally, Zacks Research upgraded shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.88.

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.