Roundview Capital LLC Acquires 638 Shares of Otis Worldwide Corporation $OTIS

Roundview Capital LLC lifted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,996 shares of the company’s stock after purchasing an additional 638 shares during the period. Roundview Capital LLC’s holdings in Otis Worldwide were worth $2,970,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. KLP Kapitalforvaltning AS raised its position in Otis Worldwide by 0.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 225,342 shares of the company’s stock worth $22,313,000 after purchasing an additional 1,100 shares during the last quarter. Berkshire Money Management Inc. increased its stake in shares of 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 buying an additional 100 shares during the period. Carolina Wealth Advisors LLC raised its position in shares of Otis Worldwide by 31.9% during the second quarter. Carolina Wealth Advisors LLC now owns 11,666 shares of the company’s stock worth $1,155,000 after acquiring an additional 2,820 shares during the last quarter. 111 Capital bought a new position in shares of Otis Worldwide during the second quarter worth about $242,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Otis Worldwide in the second quarter worth approximately $75,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Trading Down 0.8%

OTIS opened at $90.85 on Tuesday. The company has a fifty day moving average price of $88.19 and a two-hundred day moving average price of $93.97. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83. The company has a market cap of $35.66 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, research analysts forecast that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, August 15th. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. Otis Worldwide’s payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

OTIS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Otis Worldwide from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research note on Saturday, September 27th. Barclays lowered their target price on shares of Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, July 24th. Wolfe Research raised shares of Otis Worldwide from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lowered their price objective on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $103.25.

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.