Baldwin Wealth Partners LLC MA Invests $11.62 Million in Otis Worldwide Corporation $OTIS

Key Points

• Baldwin Wealth Partners LLC has invested approximately $11.62 million in Otis Worldwide Corporation, acquiring 117,312 shares in the second quarter.
• Otis Worldwide reported a quarterly earnings per share (EPS) of $1.05, exceeding analyst expectations, despite a year-over-year revenue decrease of 0.2%.
• The company's recent quarterly dividend was $0.42 per share, representing an annualized dividend yield of 1.9%.

Baldwin Wealth Partners LLC MA acquired a new position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 117,312 shares of the company's stock, valued at approximately $11,616,000.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of Otis Worldwide in the 1st quarter worth about $25,000. Wayfinding Financial LLC bought a new position in shares of Otis Worldwide in the 1st quarter worth about $31,000. Cheviot Value Management LLC bought a new position in shares of Otis Worldwide in the 1st quarter worth about $31,000. Flaharty Asset Management LLC bought a new position in shares of Otis Worldwide in the 1st quarter worth about $38,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Otis Worldwide in the 2nd quarter worth about $45,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Performance

Shares of OTIS opened at $89.73 on Friday. The stock has a 50 day moving average price of $88.42 and a two-hundred day moving average price of $93.84. The firm has a market capitalization of $35.22 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.58 and a beta of 1.00. Otis Worldwide Corporation has a 52 week low of $84.25 and a 52 week high of $106.83.

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 firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The company's revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Otis Worldwide from $93.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Monday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Otis Worldwide in a research report on Wednesday. Wolfe Research set a $109.00 target price on Otis Worldwide and gave the company an "outperform" rating in a research report on Wednesday. Barclays decreased their target price 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. Finally, Morgan Stanley boosted their target price on Otis Worldwide from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of "Hold" and a consensus price target of $103.88.

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.

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