Otis Worldwide Corporation $OTIS Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its position in Otis Worldwide Corporation (NYSE:OTIS) by 31.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,823 shares of the company’s stock after acquiring an additional 10,726 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Otis Worldwide were worth $4,098,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in Otis Worldwide during the second quarter worth $31,000. Nemes Rush Group LLC boosted its stake in shares of Otis Worldwide by 75.4% during the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock valued at $31,000 after acquiring an additional 135 shares during the last quarter. MTM Investment Management LLC purchased a new stake in shares of Otis Worldwide during the second quarter worth about $40,000. Toth Financial Advisory Corp purchased a new stake in Otis Worldwide in the 2nd quarter worth approximately $45,000. Finally, Quaker Wealth Management LLC raised its holdings in Otis Worldwide by 199.6% in the 2nd quarter. Quaker Wealth Management LLC now owns 505 shares of the company’s stock valued at $50,000 after acquiring an additional 1,012 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on OTIS shares. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. BNP Paribas Exane upgraded shares of Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Tuesday, December 9th. BNP Paribas upgraded shares of Otis Worldwide from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Barclays upped their price target on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus price target of $103.50.

Insiders Place Their Bets

In related news, CAO Michael Patrick Ryan sold 3,028 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the completion of the sale, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at approximately $240,961.32. This represents a 53.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $90.20 on Friday. The stock has a 50-day simple moving average of $88.43 and a 200-day simple moving average of $90.29. The stock has a market capitalization of $35.15 billion, a P/E ratio of 26.61, a PEG ratio of 3.19 and a beta of 1.02. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.00 by $0.05. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the firm posted $0.96 earnings per share. Otis Worldwide’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. Analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, November 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Otis Worldwide’s payout ratio is presently 49.56%.

About Otis Worldwide

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.