16,021 Shares in Otis Worldwide Corporation $OTIS Purchased by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 16,021 shares of Otis Worldwide Corporation, valued at approximately $1.5 million, increasing the institutional ownership of the stock to 88.03%.
• Otis Worldwide reported $1.05 EPS for its recent quarter, surpassing estimates but showing a slight revenue decline compared to the previous year.
• The company has announced a quarterly dividend of $0.42 per share, representing an annualized yield of 1.9% with a payout ratio of 44.44%.

AG2R LA Mondiale Gestion D Actifs acquired a new position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,021 shares of the company's stock, valued at approximately $1,528,000.

Several other large investors have also recently made changes to their positions in OTIS. Janus Henderson Group PLC lifted its holdings in shares of Otis Worldwide by 7.1% in the 4th quarter. Janus Henderson Group PLC now owns 70,485 shares of the company's stock worth $6,527,000 after acquiring an additional 4,674 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Otis Worldwide by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,572 shares of the company's stock worth $4,128,000 after acquiring an additional 1,515 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Otis Worldwide in the 4th quarter worth approximately $1,219,000. Quantinno Capital Management LP lifted its holdings in shares of Otis Worldwide by 109.5% in the 4th quarter. Quantinno Capital Management LP now owns 63,266 shares of the company's stock worth $5,859,000 after acquiring an additional 33,061 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Otis Worldwide by 10.0% in the 4th quarter. ProShare Advisors LLC now owns 73,461 shares of the company's stock worth $6,803,000 after acquiring an additional 6,698 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Trading Down 0.3%

Shares of NYSE:OTIS opened at $89.12 on Friday. Otis Worldwide Corporation has a 52 week low of $84.25 and a 52 week high of $106.83. The company's 50 day moving average is $90.36 and its two-hundred day moving average is $95.23. The company has a market cap of $34.98 billion, a PE ratio of 23.58, a P/E/G ratio of 4.30 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating 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 the consensus estimate of $3.73 billion. During the same period in the prior year, the firm posted $1.06 EPS. The company's quarterly revenue was down .2% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, equities research analysts expect that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Announces Dividend

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

Analyst Ratings Changes

OTIS has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Barclays cut their target price on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research note on Thursday, July 24th. Wells Fargo & Company cut their target price on shares of Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock 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 note on Friday, July 25th. Finally, Morgan Stanley upped their target price on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Otis Worldwide has an average rating of "Hold" and a consensus target price of $102.50.

Otis Worldwide 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.

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