Otis Worldwide Corporation $OTIS Shares Sold by Fiera Capital Corp

Fiera Capital Corp decreased its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,339,028 shares of the company’s stock after selling 55,271 shares during the quarter. Otis Worldwide comprises about 1.8% of Fiera Capital Corp’s portfolio, making the stock its 14th biggest position. Fiera Capital Corp owned approximately 1.36% of Otis Worldwide worth $528,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OTIS. Schechter Investment Advisors LLC purchased a new stake in shares of Otis Worldwide during the first quarter worth about $264,000. Signaturefd LLC grew its position in Otis Worldwide by 12.8% during the 1st quarter. Signaturefd LLC now owns 6,430 shares of the company’s stock worth $664,000 after purchasing an additional 729 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Otis Worldwide by 0.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 18,136 shares of the company’s stock valued at $1,872,000 after purchasing an additional 163 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Otis Worldwide by 9.3% during the 1st quarter. Wealthfront Advisers LLC now owns 43,306 shares of the company’s stock valued at $4,469,000 after purchasing an additional 3,684 shares in the last quarter. Finally, Bridgewater Advisors Inc. purchased a new position in shares of Otis Worldwide in the first quarter worth $213,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OTIS. Wells Fargo & Company boosted their price objective on shares of Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Barclays raised 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Otis Worldwide in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $103.71.

Otis Worldwide Trading Up 0.6%

Shares of Otis Worldwide stock opened at $90.90 on Thursday. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The firm’s 50-day moving average price is $90.44 and its 200 day moving average price is $92.73. The firm has a market capitalization of $35.42 billion, a PE ratio of 26.81, a P/E/G ratio of 3.44 and a beta of 1.00.

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

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.8%. Otis Worldwide’s dividend payout ratio is presently 49.56%.

Insider Activity at Otis Worldwide

In other news, CAO Michael Patrick Ryan sold 3,028 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total value of $277,637.32. Following the transaction, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at approximately $240,961.32. This trade represents a 53.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is owned by company insiders.

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.