Tyche Wealth Partners LLC Sells 150 Shares of Otis Worldwide Corporation $OTIS

Tyche Wealth Partners LLC reduced its stake in Otis Worldwide Corporation (NYSE:OTIS) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,055 shares of the company’s stock after selling 150 shares during the period. Tyche Wealth Partners LLC’s holdings in Otis Worldwide were worth $203,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Otis Worldwide in the first quarter worth about $25,000. Wayfinding Financial LLC bought a new position in Otis Worldwide in the first quarter worth about $31,000. Cheviot Value Management LLC bought a new position in Otis Worldwide in the first quarter worth about $31,000. Flaharty Asset Management LLC bought a new position in Otis Worldwide in the first quarter worth about $38,000. Finally, Toth Financial Advisory Corp bought a new position in Otis Worldwide in the second quarter worth about $45,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Trading Down 0.5%

Shares of OTIS stock opened at $90.36 on Wednesday. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83. The firm’s 50 day moving average is $88.25 and its 200 day moving average is $93.94. The stock has a market capitalization of $35.47 billion, a P/E ratio of 23.91, a P/E/G ratio of 3.56 and a beta of 1.00.

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

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s dividend payout ratio (DPR) is currently 44.44%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OTIS shares. Barclays decreased their price target on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research note on Saturday, September 27th. Zacks Research downgraded shares of Otis Worldwide from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. raised their target price on shares of Otis Worldwide from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, Morgan Stanley raised their target price on shares of Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.25.

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.