XTX Topco Ltd Acquires 3,240 Shares of Otis Worldwide Corporation $OTIS

XTX Topco Ltd increased its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,491 shares of the company’s stock after buying an additional 3,240 shares during the period. XTX Topco Ltd’s holdings in Otis Worldwide were worth $3,019,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OTIS. Chilton Capital Management LLC acquired a new position in shares of Otis Worldwide during the 2nd quarter worth about $31,000. Nemes Rush Group LLC increased its holdings in shares of Otis Worldwide by 75.4% during the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock worth $31,000 after purchasing an additional 135 shares during the period. Cheviot Value Management LLC acquired a new position in Otis Worldwide in the first quarter valued at about $31,000. Flaharty Asset Management LLC acquired a new stake in shares of Otis Worldwide in the 1st quarter valued at $38,000. Finally, MTM Investment Management LLC bought a new stake in shares of Otis Worldwide during the 2nd quarter valued at approximately $40,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of OTIS opened at $88.44 on Wednesday. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The stock has a 50 day simple moving average of $90.41 and a two-hundred day simple moving average of $92.17. The firm has a market cap of $34.47 billion, a P/E ratio of 26.09, a P/E/G ratio of 3.31 and a beta of 1.00.

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

Otis Worldwide Announces Dividend

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

Insider Activity

In other Otis Worldwide 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 value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OTIS. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the company an “outperform” rating in a research note on Wednesday, October 8th. 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. Wells Fargo & Company lifted their price target on Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $103.71.

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.