Strs Ohio Invests $935,000 in Otis Worldwide Corporation $OTIS

Strs Ohio bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,446 shares of the company’s stock, valued at approximately $935,000.

A number of other large investors have also recently made changes to their positions in OTIS. Cheviot Value Management LLC bought a new stake in shares of Otis Worldwide during the first quarter worth about $31,000. Chilton Capital Management LLC bought a new stake in Otis Worldwide during the 2nd quarter worth approximately $31,000. Flaharty Asset Management LLC bought a new stake in Otis Worldwide during the 1st quarter worth approximately $38,000. Toth Financial Advisory Corp purchased a new stake in shares of Otis Worldwide in the second quarter worth approximately $45,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Otis Worldwide in the first quarter worth approximately $48,000. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Wells Fargo & Company upped their target price on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Otis Worldwide in a research report on Monday, July 14th. They set a “hold” rating and a $109.00 price target on the stock. Wolfe Research set a $109.00 price objective on shares of Otis Worldwide and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide presently has an average rating of “Hold” and a consensus target price of $104.88.

Otis Worldwide Stock Performance

OTIS opened at $91.17 on Friday. The firm has a market cap of $35.53 billion, a P/E ratio of 26.89, a PEG ratio of 3.48 and a beta of 1.00. The firm has a 50-day moving average of $90.07 and a 200 day moving average of $92.86. Otis Worldwide Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $106.83.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Equities 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 will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, November 14th. Otis Worldwide’s dividend payout ratio is 49.56%.

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.