Otis Worldwide Corporation $OTIS Shares Purchased by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA increased its stake in Otis Worldwide Corporation by 53.8% during Q1, now holding 8,919 shares worth approximately $851,000.
• Otis Worldwide reported earnings of $1.05 per share for the last quarter, beating analysts' expectations of $1.03, although revenue decreased by 0.2% year-over-year.
• The company declared a quarterly dividend of $0.42 per share, with an annual yield of 2.0%, and a dividend payout ratio of 44.44%.

Banque Transatlantique SA raised its position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 53.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,919 shares of the company's stock after buying an additional 3,121 shares during the quarter. Banque Transatlantique SA's holdings in Otis Worldwide were worth $851,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of Otis Worldwide in the first quarter valued at about $25,000. Wayfinding Financial LLC acquired a new stake in Otis Worldwide in the first quarter valued at about $31,000. Cheviot Value Management LLC purchased a new stake in Otis Worldwide in the 1st quarter valued at approximately $31,000. Orion Capital Management LLC purchased a new stake in Otis Worldwide in the 4th quarter valued at approximately $35,000. Finally, Curat Global LLC acquired a new position in Otis Worldwide during the 1st quarter worth approximately $61,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Stock Performance

OTIS stock traded up $0.32 during trading on Tuesday, hitting $87.69. The stock had a trading volume of 1,261,774 shares, compared to its average volume of 2,808,869. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 4.19 and a beta of 0.98. The company's 50 day moving average price is $91.26 and its two-hundred day moving average price is $95.50. Otis Worldwide Corporation has a 1-year low of $84.25 and a 1-year high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3.73 billion. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. 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 firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide's payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Morgan Stanley increased their price objective 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. Wells Fargo & Company decreased 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 report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Otis Worldwide in a research note on Monday, July 14th. They set a "hold" rating and a $109.00 price target on the stock. Finally, Wolfe Research upgraded shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Otis Worldwide has an average rating of "Hold" and an average price target of $102.50.

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.