Nisa Investment Advisors LLC Has $9.86 Million Stock Holdings in Otis Worldwide Corporation $OTIS

Nisa Investment Advisors LLC trimmed its position in shares of Otis Worldwide Corporation (NYSE:OTIS) by 10.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 107,818 shares of the company’s stock after selling 12,488 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Otis Worldwide were worth $9,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Kingswood Wealth Advisors LLC increased its position in shares of Otis Worldwide by 25.4% during the third quarter. Kingswood Wealth Advisors LLC now owns 2,638 shares of the company’s stock valued at $241,000 after purchasing an additional 535 shares during the period. Coerente Capital Management boosted its stake in Otis Worldwide by 48.7% during the third quarter. Coerente Capital Management now owns 162,028 shares of the company’s stock worth $14,814,000 after buying an additional 53,049 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Otis Worldwide in the 3rd quarter valued at $518,000. HB Wealth Management LLC raised its stake in shares of Otis Worldwide by 17.1% in the 3rd quarter. HB Wealth Management LLC now owns 17,506 shares of the company’s stock valued at $1,601,000 after buying an additional 2,553 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new position in shares of Otis Worldwide during the 3rd quarter worth about $10,056,000. Institutional investors own 88.03% of the company’s stock.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the sale, the chief accounting officer owned 2,628 shares of the company’s stock, valued at $240,961.32. This represents a 53.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OTIS has been the topic of a number of analyst reports. BNP Paribas raised shares of Otis Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. BNP Paribas Exane raised Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Tuesday, December 9th. Finally, Barclays increased their price objective on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research note 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $103.50.

Otis Worldwide Price Performance

Shares of OTIS opened at $90.20 on Friday. The company 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 one year low of $84.25 and a one year high of $106.83. The business’s 50 day simple moving average is $88.43 and its 200-day simple moving average is $90.29.

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

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were given 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 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.