M. Kraus & Co Sells 317 Shares of Otis Worldwide Corporation $OTIS

M. Kraus & Co lowered its position in Otis Worldwide Corporation (NYSE:OTIS) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,028 shares of the company’s stock after selling 317 shares during the period. M. Kraus & Co’s holdings in Otis Worldwide were worth $2,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of Otis Worldwide in the first quarter valued at approximately $25,000. Miracle Mile Advisors LLC bought a new position in shares of Otis Worldwide in the first quarter valued at approximately $281,000. Farther Finance Advisors LLC lifted its holdings in shares of Otis Worldwide by 106.3% in the first quarter. Farther Finance Advisors LLC now owns 2,845 shares of the company’s stock valued at $296,000 after purchasing an additional 1,466 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Otis Worldwide by 18.8% in the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company’s stock valued at $821,000 after purchasing an additional 1,260 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Otis Worldwide in the first quarter valued at approximately $2,533,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

NYSE:OTIS opened at $89.73 on Friday. The business has a fifty day simple moving average of $88.42 and a two-hundred day simple moving average of $93.84. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The company has a market capitalization of $35.22 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.58 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last released its earnings results 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 negative return on equity of 30.95% and a net margin of 10.68%.The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 15th. Otis Worldwide’s dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OTIS shares. Weiss Ratings restated a “hold (c+)” rating on shares of Otis Worldwide in a report on Wednesday. Wells Fargo & Company raised their target price on Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a report on Monday, July 14th. They issued a “hold” rating and a $109.00 target price on the stock. Royal Bank Of Canada dropped their price target on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Finally, Barclays dropped their price target on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $103.88.

About Otis Worldwide

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.