HRT Financial LP Grows Stock Position in Otis Worldwide Corporation $OTIS

HRT Financial LP grew its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 8.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 306,471 shares of the company’s stock after purchasing an additional 24,767 shares during the period. HRT Financial LP owned approximately 0.08% of Otis Worldwide worth $30,346,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OTIS. Chilton Capital Management LLC acquired a new stake in Otis Worldwide during the 2nd quarter valued at $31,000. Nemes Rush Group LLC boosted its position in Otis Worldwide by 75.4% in the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock valued at $31,000 after buying an additional 135 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Otis Worldwide during the first quarter valued at about $38,000. MTM Investment Management LLC acquired a new stake in shares of Otis Worldwide during the second quarter valued at about $40,000. Finally, Toth Financial Advisory Corp purchased a new stake in shares of Otis Worldwide during the second quarter worth about $45,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total value of $277,637.32. Following the transaction, the chief accounting officer owned 2,628 shares of the company’s stock, valued at $240,961.32. This trade represents a 53.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OTIS has been the subject of a number of recent analyst reports. Wolfe Research set a $109.00 price objective on Otis Worldwide and gave the company an “outperform” rating in a research note on Wednesday, October 8th. BNP Paribas upgraded Otis Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised 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. Wells Fargo & Company upped their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Finally, Barclays raised their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.88.

Otis Worldwide Trading Up 0.5%

OTIS stock opened at $88.13 on Friday. The stock’s 50 day simple moving average is $89.68 and its 200 day simple moving average is $91.34. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83. The firm has a market cap of $34.34 billion, a P/E ratio of 26.00, a P/E/G ratio of 3.34 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.05. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.65 billion. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, research analysts forecast 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, December 5th. Investors of record on Friday, November 14th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s dividend payout ratio is 49.56%.

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.