3,041 Shares in Otis Worldwide Corporation $OTIS Bought by Compound Planning Inc.

Key Points

• Compound Planning Inc. acquired 3,041 shares of Otis Worldwide Corporation, valued at approximately $314,000, marking their new investment in the elevator and escalator manufacturer.
• Otis Worldwide has a market cap of $34.43 billion and recently reported $1.05 earnings per share, beating analyst expectations.
• The company announced a quarterly dividend of $0.42 per share, with an expected yield of 1.9%, payable on September 5th.

Compound Planning Inc. bought a new position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,041 shares of the company's stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Otis Worldwide by 3.5% in the first quarter. Vanguard Group Inc. now owns 46,595,293 shares of the company's stock worth $4,808,634,000 after buying an additional 1,591,450 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Otis Worldwide by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company's stock worth $3,913,347,000 after buying an additional 2,396,134 shares during the period. Northern Trust Corp boosted its position in shares of Otis Worldwide by 12.3% in the fourth quarter. Northern Trust Corp now owns 4,577,626 shares of the company's stock worth $423,934,000 after buying an additional 501,016 shares during the period. Invesco Ltd. boosted its position in shares of Otis Worldwide by 4.7% in the first quarter. Invesco Ltd. now owns 4,238,600 shares of the company's stock worth $437,424,000 after buying an additional 190,397 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Otis Worldwide by 16.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,138,076 shares of the company's stock worth $427,049,000 after buying an additional 571,489 shares during the period. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Trading Up 0.1%

OTIS opened at $87.73 on Thursday. The stock has a market cap of $34.43 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 4.22 and a beta of 0.95. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The stock has a fifty day moving average price of $92.92 and a 200 day moving average price of $96.13.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the company earned $1.06 earnings per share. The business's 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, sell-side analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 15th. Otis Worldwide's dividend payout ratio (DPR) is 44.44%.

Analysts Set New Price Targets

Several brokerages have recently commented on OTIS. Morgan Stanley raised their target price on Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Wolfe Research raised Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday, July 25th. Royal Bank Of Canada reduced 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. Deutsche Bank Aktiengesellschaft started coverage on Otis Worldwide in a research report on Monday, July 14th. They set a "hold" rating and a $109.00 price objective for the company. Finally, Barclays reduced their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.50.

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.

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