Curbstone Financial Management Corp Sells 700 Shares of Otis Worldwide Corporation $OTIS

Curbstone Financial Management Corp decreased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 9.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,448 shares of the company’s stock after selling 700 shares during the period. Curbstone Financial Management Corp’s holdings in Otis Worldwide were worth $638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Otis Worldwide in the 1st quarter valued at $31,000. Cheviot Value Management LLC acquired a new stake in shares of Otis Worldwide during the 1st quarter valued at $31,000. Flaharty Asset Management LLC acquired a new stake in shares of Otis Worldwide during the 1st quarter valued at $38,000. Toth Financial Advisory Corp acquired a new stake in shares of Otis Worldwide during the 2nd quarter valued at $45,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Otis Worldwide during the 1st quarter valued at $48,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Trading Up 0.8%

Shares of OTIS opened at $91.39 on Friday. The company has a market capitalization of $35.87 billion, a PE ratio of 24.18, a PEG ratio of 3.58 and a beta of 1.00. Otis Worldwide Corporation has a 12 month low of $84.25 and a 12 month high of $106.83. The stock’s 50-day moving average price is $88.92 and its two-hundred day moving average price is $93.26.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Equities research analysts predict 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. Stockholders of record on Friday, August 15th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. Otis Worldwide’s dividend payout ratio (DPR) is 44.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OTIS shares. Morgan Stanley raised their price objective on Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Otis Worldwide in a report on Wednesday, October 8th. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Otis Worldwide in a report on Monday, July 14th. They set a “hold” rating and a $109.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Otis Worldwide has a consensus rating of “Hold” and a consensus target price of $104.63.

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.