Clarius Group LLC Sells 380 Shares of Otis Worldwide Corporation $OTIS

Clarius Group LLC cut its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 14.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,320 shares of the company’s stock after selling 380 shares during the period. Clarius Group LLC’s holdings in Otis Worldwide were worth $230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Otis Worldwide by 3.5% during the first quarter. Vanguard Group Inc. now owns 46,595,293 shares of the company’s stock valued at $4,808,634,000 after purchasing an additional 1,591,450 shares during the period. JPMorgan Chase & Co. grew its holdings in Otis Worldwide by 6.7% during the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock valued at $3,913,347,000 after purchasing an additional 2,396,134 shares during the period. PineStone Asset Management Inc. grew its holdings in Otis Worldwide by 13.3% during the second quarter. PineStone Asset Management Inc. now owns 4,639,065 shares of the company’s stock valued at $459,360,000 after purchasing an additional 543,933 shares during the period. Invesco Ltd. grew its holdings in Otis Worldwide by 4.7% during the first quarter. Invesco Ltd. now owns 4,238,600 shares of the company’s stock valued at $437,424,000 after purchasing an additional 190,397 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Otis Worldwide by 16.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,138,076 shares of the company’s stock valued at $427,049,000 after purchasing an additional 571,489 shares during the period. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $90.36 on Wednesday. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83. The company has a market capitalization of $35.47 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The business’s fifty day moving average is $88.25 and its 200 day moving average is $93.94.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the business posted $1.06 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, sell-side analysts forecast that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given 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, August 15th. Otis Worldwide’s dividend payout ratio (DPR) is 44.44%.

Wall Street Analyst Weigh In

OTIS has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Otis Worldwide from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Wolfe Research raised Otis Worldwide from an “underperform” rating to a “peer perform” rating in a report on Friday, July 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Otis Worldwide in a research report on Saturday, September 27th. Morgan Stanley increased their target price on Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Barclays dropped their target price on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $103.25.

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.