14,575 Shares in Otis Worldwide Corporation $OTIS Acquired by New England Research & Management Inc.

New England Research & Management Inc. purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,575 shares of the company’s stock, valued at approximately $1,333,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OTIS. Kovitz Investment Group Partners LLC lifted its position in Otis Worldwide by 6.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 10,884 shares of the company’s stock valued at $1,123,000 after acquiring an additional 701 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Otis Worldwide by 1.0% in the first quarter. American Century Companies Inc. now owns 344,702 shares of the company’s stock valued at $35,573,000 after acquiring an additional 3,315 shares during the period. Corient IA LLC purchased a new position in shares of Otis Worldwide during the first quarter worth approximately $413,000. Brooklyn Investment Group increased its holdings in shares of Otis Worldwide by 86.3% in the 1st quarter. Brooklyn Investment Group now owns 2,182 shares of the company’s stock valued at $225,000 after acquiring an additional 1,011 shares during the period. Finally, Aviso Financial Inc. raised its position in Otis Worldwide by 25.0% in the 1st quarter. Aviso Financial Inc. now owns 48,644 shares of the company’s stock valued at $5,020,000 after purchasing an additional 9,744 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Up 0.5%

Shares of OTIS opened at $88.60 on Tuesday. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83. The company has a 50-day simple moving average of $89.64 and a 200-day simple moving average of $91.23. The company has a market capitalization of $34.53 billion, a PE ratio of 26.13, a P/E/G ratio of 3.36 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.65 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, research analysts anticipate that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on OTIS shares. Wolfe Research set a $109.00 target price on shares of Otis Worldwide and gave the company an “outperform” rating in a report on Wednesday, October 8th. BNP Paribas raised Otis Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Wells Fargo & Company decreased their price objective on Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Monday. JPMorgan Chase & Co. boosted their target price on Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $103.50.

Insider Buying and Selling at Otis Worldwide

In related news, CAO Michael Patrick Ryan sold 3,028 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $91.69, for a total value of $277,637.32. Following the completion of the transaction, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at $240,961.32. This trade represents a 53.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

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.