Asset Management One Co. Ltd. Has $16.28 Million Stake in Otis Worldwide Corporation $OTIS

Key Points

• Asset Management One Co. Ltd. owns a stake valued at $16.28 million in Otis Worldwide Corporation, having increased their holdings by 2.5% during the second quarter.
• Otis Worldwide reported earnings of $1.05 per share for its last quarter, exceeding expectations but showing a slight revenue decline of 0.2% year-over-year.
• Analysts have mixed ratings on Otis stock, with a consensus rating of "Hold" and an average price target of $104.63.

Asset Management One Co. Ltd. raised its position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 2.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 164,439 shares of the company's stock after purchasing an additional 4,007 shares during the period. Asset Management One Co. Ltd.'s holdings in Otis Worldwide were worth $16,283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OTIS. Wayfinding Financial LLC acquired a new position in shares of Otis Worldwide in the 1st quarter worth approximately $31,000. Cheviot Value Management LLC acquired a new position in shares of Otis Worldwide in the 1st quarter worth approximately $31,000. Flaharty Asset Management LLC acquired a new position in shares of Otis Worldwide in the 1st quarter worth approximately $38,000. Toth Financial Advisory Corp acquired a new position in shares of Otis Worldwide in the 2nd quarter worth approximately $45,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Otis Worldwide in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Trading Down 1.1%

OTIS opened at $91.91 on Friday. The company's fifty day moving average price is $89.37 and its two-hundred day moving average price is $93.18. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83. The company has a market cap of $36.07 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 3.61 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released 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. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. The business's revenue was down .2% on a year-over-year basis. As a group, equities analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OTIS has been the topic of a number of research reports. Morgan Stanley boosted 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. Barclays dropped 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 report on Thursday, July 24th. Zacks Research upgraded shares of Otis Worldwide from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 14th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Otis Worldwide in a research report on Saturday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Otis Worldwide from $105.00 to $111.00 and gave the company an "overweight" rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Otis Worldwide has a consensus rating of "Hold" and an average price target of $104.63.

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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