Mitsubishi UFJ Trust & Banking Corp Purchases 137,458 Shares of Otis Worldwide Corporation $OTIS

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 48.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 422,400 shares of the company’s stock after buying an additional 137,458 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Otis Worldwide worth $38,620,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC lifted its stake in shares of Otis Worldwide by 10.5% in the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after buying an additional 857 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after buying an additional 1,574 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Otis Worldwide by 5.3% during the second quarter. Farther Finance Advisors LLC now owns 2,996 shares of the company’s stock valued at $297,000 after buying an additional 151 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Otis Worldwide by 8.5% during the second quarter. Fifth Third Bancorp now owns 16,369 shares of the company’s stock worth $1,621,000 after acquiring an additional 1,282 shares in the last quarter. 88.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research note on Monday, December 29th. Wells Fargo & Company decreased their price target on Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. BNP Paribas Exane raised Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price target for the company in a research report 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Otis Worldwide from $111.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.13.

Otis Worldwide Stock Up 0.8%

Shares of OTIS stock opened at $90.96 on Monday. The company has a 50 day moving average of $88.30 and a 200-day moving average of $89.58. 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 $35.45 billion, a P/E ratio of 26.83, a PEG ratio of 2.63 and a beta of 1.02.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.00 by $0.05. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.65 billion. Otis Worldwide had a negative return on equity of 30.67% and a net margin of 9.41%.Otis Worldwide’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. As a group, equities analysts expect that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, November 14th. Otis Worldwide’s payout ratio is currently 49.56%.

Insider Buying and Selling

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 completion of the transaction, the chief accounting officer owned 2,628 shares in the company, valued at $240,961.32. This trade represents a 53.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by company insiders.

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.