Otis Worldwide Corporation $OTIS Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC reduced its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,732 shares of the company’s stock after selling 1,467 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Otis Worldwide were worth $8,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in OTIS. Concurrent Investment Advisors LLC increased its stake in Otis Worldwide by 80.8% in the first quarter. Concurrent Investment Advisors LLC now owns 6,581 shares of the company’s stock valued at $679,000 after purchasing an additional 2,942 shares during the last quarter. Penserra Capital Management LLC increased its stake in Otis Worldwide by 258.6% during the first quarter. Penserra Capital Management LLC now owns 10,350 shares of the company’s stock worth $1,067,000 after acquiring an additional 7,464 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Otis Worldwide by 3.0% during the first quarter. TD Private Client Wealth LLC now owns 7,614 shares of the company’s stock worth $786,000 after acquiring an additional 220 shares during the last quarter. Callan Capital LLC increased its stake in Otis Worldwide by 9.3% during the first quarter. Callan Capital LLC now owns 2,895 shares of the company’s stock worth $299,000 after acquiring an additional 246 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in Otis Worldwide during the first quarter worth about $241,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

OTIS stock opened at $91.22 on Thursday. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The firm has a market cap of $35.55 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 3.46 and a beta of 1.00. The stock has a 50-day simple moving average of $89.98 and a 200-day simple moving average of $92.87.

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

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. Otis Worldwide’s dividend payout ratio is currently 49.56%.

Analysts Set New Price Targets

Several brokerages have commented on OTIS. Barclays upped their price target on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada dropped their price target on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft began coverage on Otis Worldwide in a research note on Monday, July 14th. They set a “hold” rating and a $109.00 price target for the company. Finally, Wolfe Research set a $109.00 price target on Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average target price of $104.88.

Otis Worldwide 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.