14,716 Shares in Otis Worldwide Corporation $OTIS Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP purchased 14,716 shares of Otis Worldwide Corporation, valued at approximately $1,519,000, during the first quarter.
• Many hedge funds have recently increased their stakes in Otis Worldwide, with 88.03% of the stock now owned by institutional investors and hedge funds.
• Otis Worldwide announced a $0.42 per share quarterly dividend with an annualized yield of 1.9%, reflecting a payout ratio of 44.44%.

Caxton Associates LLP bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 14,716 shares of the company's stock, valued at approximately $1,519,000.

Several other institutional investors also recently made changes to their positions in OTIS. NBC Securities Inc. purchased a new stake in shares of Otis Worldwide during the 1st quarter worth $25,000. Wayfinding Financial LLC purchased a new stake in shares of Otis Worldwide during the 1st quarter worth $31,000. Cheviot Value Management LLC purchased a new stake in shares of Otis Worldwide during the 1st quarter worth $31,000. Orion Capital Management LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter worth $35,000. Finally, Curat Global LLC purchased a new stake in shares of Otis Worldwide during the 1st quarter worth $61,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OTIS has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Wells Fargo & Company decreased their price objective on shares of Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Barclays decreased their price objective on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research report on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Wolfe Research upgraded shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday, July 25th. Two investment 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. According to MarketBeat.com, Otis Worldwide presently has a consensus rating of "Hold" and an average target price of $102.50.

Otis Worldwide Price Performance

NYSE:OTIS traded down $0.26 on Friday, reaching $89.12. The stock had a trading volume of 3,610,840 shares, compared to its average volume of 3,228,639. The company has a market cap of $34.98 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 4.30 and a beta of 0.98. The firm's fifty day moving average is $90.36 and its two-hundred day moving average is $95.23. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83.

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

Otis Worldwide Dividend Announcement

The business 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. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 15th. Otis Worldwide's dividend payout ratio is presently 44.44%.

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.