Otis Worldwide Corporation $OTIS Shares Bought by Czech National Bank

Key Points

• The **Czech National Bank** increased its holdings in **Otis Worldwide Corporation** by **5.9%** during the second quarter, now owning **96,473 shares** valued at **$9.55 million**.
• Otis Worldwide's stock has a consensus rating of **"Hold"** with a target price of **$102.50**, following recent adjustments from multiple analysts, including a decrease by **Wells Fargo** and an increase by **Morgan Stanley**.
• The company recently declared a **quarterly dividend** of **$0.42 per share**, representing an annualized dividend of **$1.68** and a yield of **1.9%**.

Czech National Bank raised its position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 5.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 96,473 shares of the company's stock after purchasing an additional 5,399 shares during the period. Czech National Bank's holdings in Otis Worldwide were worth $9,553,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Otis Worldwide in the 1st quarter worth $1,528,000. Swedbank AB grew its position in Otis Worldwide by 2.3% during the first quarter. Swedbank AB now owns 225,142 shares of the company's stock valued at $23,235,000 after acquiring an additional 5,023 shares during the last quarter. Silicon Valley Capital Partners bought a new position in Otis Worldwide during the first quarter valued at approximately $232,000. Acadian Asset Management LLC grew its holdings in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock worth $417,000 after purchasing an additional 1,574 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Otis Worldwide by 26.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,514 shares of the company's stock valued at $156,000 after acquiring an additional 314 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company's stock.

Wall Street Analysts Forecast Growth

OTIS has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Wolfe Research raised shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday, July 25th. Zacks Research downgraded Otis Worldwide from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. Royal Bank Of Canada dropped their price target on Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Finally, 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 target price for the company. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $103.00.

Otis Worldwide Stock Down 1.2%

NYSE OTIS traded down $1.10 during trading hours on Friday, hitting $89.25. 6,993,916 shares of the company were exchanged, compared to its average volume of 2,976,025. The company has a 50 day moving average of $89.36 and a two-hundred day moving average of $94.87. Otis Worldwide Corporation has a 52-week low of $84.25 and a 52-week high of $106.83. The firm has a market cap of $35.03 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 4.29 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings results 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 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 the consensus estimate of $3.73 billion. During the same quarter in the prior year, the business earned $1.06 EPS. Otis Worldwide's revenue was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, equities research analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

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

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.