United Advisor Group LLC Acquires New Position in Otis Worldwide Corporation $OTIS

United Advisor Group LLC acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,191 shares of the company’s stock, valued at approximately $415,000.

Several other large investors have also bought and sold shares of OTIS. Clean Energy Transition LLP purchased a new stake in shares of Otis Worldwide during the second quarter valued at approximately $32,578,000. Vanguard Group Inc. lifted its position in Otis Worldwide by 4.3% in 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 in the last quarter. Frank Rimerman Advisors LLC lifted its position in Otis Worldwide by 68.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 4,185 shares of the company’s stock valued at $414,000 after acquiring an additional 1,699 shares in the last quarter. Westpac Banking Corp boosted its stake in Otis Worldwide by 15.9% during the 2nd quarter. Westpac Banking Corp now owns 3,856 shares of the company’s stock valued at $382,000 after purchasing an additional 528 shares during the last quarter. Finally, MTM Investment Management LLC purchased a new stake in Otis Worldwide during the 2nd quarter valued at $40,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of the business’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 completion of the sale, the chief accounting officer owned 2,628 shares of the company’s stock, valued at approximately $240,961.32. The trade was a 53.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Otis Worldwide Trading Down 0.3%

Shares of NYSE OTIS opened at $87.84 on Wednesday. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83. The firm has a market capitalization of $34.23 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 3.36 and a beta of 1.00. The firm has a 50 day moving average of $90.57 and a 200 day moving average of $92.51.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share 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 analysts’ expectations of $3.65 billion. During the same quarter last year, the company posted $0.96 EPS. The company’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. Sell-side analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s payout ratio is 49.56%.

Wall Street Analysts Forecast Growth

OTIS has been the subject of several recent analyst reports. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wolfe Research set a $109.00 price objective on Otis Worldwide and gave the stock an “outperform” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Barclays raised their price target on shares of Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Finally, Royal Bank Of Canada reduced their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, July 28th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $103.71.

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.