Amundi Acquires 307,220 Shares of Otis Worldwide Corporation $OTIS

Key Points

• Amundi increased its position in Otis Worldwide Corporation by 34.8%, owning 1,189,263 shares valued at approximately $124.04 million as of its latest SEC filing.
• Otis Worldwide recently declared a quarterly dividend of $0.42 per share, translating to an annualized dividend yield of 1.9%.
• Recent analyst ratings show mixed opinions on Otis Worldwide, with two analysts rating it as a Buy, five as Hold, and one as Sell, while the consensus target price is $102.50.

Amundi raised its stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 34.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,189,263 shares of the company's stock after purchasing an additional 307,220 shares during the quarter. Amundi owned 0.30% of Otis Worldwide worth $124,040,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in OTIS. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Otis Worldwide by 15.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 828 shares of the company's stock valued at $85,000 after purchasing an additional 110 shares during the last quarter. Graypoint LLC lifted its holdings in Otis Worldwide by 3.4% during the 1st quarter. Graypoint LLC now owns 4,414 shares of the company's stock worth $456,000 after buying an additional 147 shares in the last quarter. Courier Capital LLC boosted its position in Otis Worldwide by 6.2% in the 1st quarter. Courier Capital LLC now owns 2,566 shares of the company's stock valued at $265,000 after buying an additional 150 shares during the last quarter. Venture Visionary Partners LLC boosted its position in Otis Worldwide by 0.7% in the 1st quarter. Venture Visionary Partners LLC now owns 22,254 shares of the company's stock valued at $2,297,000 after buying an additional 155 shares during the last quarter. Finally, Foyston Gordon & Payne Inc increased its stake in shares of Otis Worldwide by 0.3% in the 4th quarter. Foyston Gordon & Payne Inc now owns 56,094 shares of the company's stock valued at $5,195,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock traded up $1.72 on Thursday, hitting $89.35. The company had a trading volume of 3,628,117 shares, compared to its average volume of 3,173,438. The stock has a 50-day moving average of $90.57 and a 200-day moving average of $95.33. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The firm has a market capitalization of $35.07 billion, a P/E ratio of 23.64, a P/E/G ratio of 4.22 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates 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 firm's quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $1.06 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Equities analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given 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 of this dividend was Friday, August 15th. Otis Worldwide's dividend payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OTIS. Wolfe Research upgraded Otis Worldwide from an "underperform" rating to a "peer perform" rating in a report on Friday, July 25th. Morgan Stanley upped their target price on shares of Otis Worldwide from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Otis Worldwide in a research note on Monday, July 14th. They issued a "hold" rating and a $109.00 target price on the stock. Barclays lowered their price target on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. 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 company. According to data from MarketBeat, the company has a consensus 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.