Otis Worldwide Corporation $OTIS Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lifted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 291,997 shares of the company’s stock after acquiring an additional 7,097 shares during the period. UniSuper Management Pty Ltd owned 0.07% of Otis Worldwide worth $26,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Berkshire Money Management Inc. increased its stake in Otis Worldwide by 5.0% in the second quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock valued at $208,000 after purchasing an additional 100 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Otis Worldwide by 0.8% during the second quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock worth $1,374,000 after buying an additional 104 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of Otis Worldwide by 5.5% during the third quarter. OLD National Bancorp IN now owns 2,245 shares of the company’s stock worth $205,000 after buying an additional 118 shares during the last quarter. PFG Investments LLC increased its position in Otis Worldwide by 3.7% in the 2nd quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock valued at $339,000 after acquiring an additional 121 shares during the period. Finally, PKS Advisory Services LLC raised its stake in Otis Worldwide by 4.9% during the 2nd quarter. PKS Advisory Services LLC now owns 2,575 shares of the company’s stock valued at $255,000 after acquiring an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wolfe Research set a $109.00 target price on Otis Worldwide and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded Otis Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Wells Fargo & Company dropped their price objective on shares of Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their price objective on shares of Otis Worldwide from $111.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $104.13.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $90.96 on Friday. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The stock has a fifty day moving average price of $88.30 and a two-hundred day moving average price of $89.72. The stock has a market capitalization of $35.45 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 2.61 and a beta of 1.02.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.00 by $0.05. The company had revenue of $3.69 billion for 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 business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Announces Dividend

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 1.8%. Otis Worldwide’s payout ratio is 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.