Farmers & Merchants Investments Inc. Boosts Position in Otis Worldwide Corporation $OTIS

Key Points

• Farmers & Merchants Investments Inc. increased its stake in Otis Worldwide Corporation by 6.9% in the second quarter, holding 44,345 shares valued at approximately $4.39 million.
• Otis Worldwide's recent earnings report showed an EPS of $1.05, exceeding estimates, but revenue declined by 0.2% year over year, totaling $3.60 billion.
• The company declared a quarterly dividend of $0.42 per share, with an annualized yield of 1.9%, reflecting a dividend payout ratio of 44.44%.

Farmers & Merchants Investments Inc. boosted its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,345 shares of the company's stock after acquiring an additional 2,861 shares during the quarter. Farmers & Merchants Investments Inc.'s holdings in Otis Worldwide were worth $4,391,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OTIS. NBC Securities Inc. bought a new stake in Otis Worldwide during the first quarter valued at about $25,000. Wayfinding Financial LLC bought a new stake in Otis Worldwide during the first quarter valued at about $31,000. Cheviot Value Management LLC bought a new stake in Otis Worldwide during the first quarter valued at about $31,000. Flaharty Asset Management LLC bought a new stake in Otis Worldwide during the first quarter valued at about $38,000. Finally, Toth Financial Advisory Corp bought a new stake in Otis Worldwide during the second quarter valued at about $45,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

Otis Worldwide Price Performance

Shares of OTIS stock opened at $89.43 on Tuesday. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The stock's 50 day simple moving average is $89.15 and its two-hundred day simple moving average is $94.71. The company has a market cap of $35.10 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 4.29 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company's quarterly revenue was down .2% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Equities research analysts expect that Otis Worldwide Corporation will post 4.04 EPS 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 given a dividend of $0.42 per share. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Otis Worldwide's dividend payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OTIS shares. Wolfe Research raised Otis Worldwide from an "underperform" rating to a "peer perform" rating in a report on Friday, July 25th. Morgan Stanley boosted their price target on Otis Worldwide from $97.00 to $105.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a report on Monday, July 14th. They set a "hold" rating and a $109.00 price target for the company. Barclays dropped their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a research note on Thursday, July 24th. Finally, Zacks Research lowered Otis Worldwide from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $103.00.

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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