Otis Worldwide Corporation $OTIS Shares Acquired by Howard Capital Management Inc.

Howard Capital Management Inc. grew its position in Otis Worldwide Corporation (NYSE:OTIS) by 12.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,662 shares of the company’s stock after acquiring an additional 285 shares during the period. Howard Capital Management Inc.’s holdings in Otis Worldwide were worth $264,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of OTIS. Golden State Wealth Management LLC raised its position in shares of Otis Worldwide by 64.8% in the first quarter. Golden State Wealth Management LLC now owns 613 shares of the company’s stock worth $63,000 after acquiring an additional 241 shares during the period. Alta Advisers Ltd acquired a new position in shares of Otis Worldwide in the first quarter worth about $203,000. Mather Group LLC. raised its position in shares of Otis Worldwide by 16.3% in the first quarter. Mather Group LLC. now owns 3,969 shares of the company’s stock worth $410,000 after acquiring an additional 555 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Otis Worldwide by 1.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 44,866 shares of the company’s stock worth $4,630,000 after acquiring an additional 701 shares during the period. Finally, Aaron Wealth Advisors LLC raised its position in shares of Otis Worldwide by 50.0% in the first quarter. Aaron Wealth Advisors LLC now owns 5,376 shares of the company’s stock worth $555,000 after acquiring an additional 1,792 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on OTIS shares. Barclays upped their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Zacks Research upgraded shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upped their price target on shares of Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Otis Worldwide in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.88.

Otis Worldwide Trading Down 0.9%

OTIS stock opened at $92.57 on Friday. The company has a market cap of $36.33 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 3.63 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 firm has a 50-day moving average of $89.70 and a two-hundred day moving average of $93.11.

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

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.