Greenleaf Trust Sells 2,904 Shares of Otis Worldwide Corporation $OTIS

Key Points

• Greenleaf Trust has reduced its stake in Otis Worldwide Corporation by 24.5%, selling 2,904 shares and leaving it with 8,925 shares valued at approximately $884,000.
• Otis Worldwide reported $1.05 EPS for the last quarter, beating analyst expectations, but saw a 0.2% decline in revenue year-over-year.
• Analysts have mixed ratings on Otis Worldwide, with an average target price of $103.00; some have downgraded it to a "strong sell" while others maintain a "buy" rating.

Greenleaf Trust trimmed its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 24.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,925 shares of the company's stock after selling 2,904 shares during the period. Greenleaf Trust's holdings in Otis Worldwide were worth $884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in OTIS. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Otis Worldwide by 14.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,341 shares of the company's stock valued at $2,810,000 after buying an additional 3,765 shares in the last quarter. NBC Securities Inc. purchased a new position in Otis Worldwide during the first quarter worth about $25,000. Merit Financial Group LLC boosted its holdings in Otis Worldwide by 51.6% during the first quarter. Merit Financial Group LLC now owns 16,355 shares of the company's stock worth $1,688,000 after purchasing an additional 5,565 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Otis Worldwide by 15.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 828 shares of the company's stock worth $85,000 after purchasing an additional 110 shares during the last quarter. Finally, Curat Global LLC purchased a new position in Otis Worldwide during the first quarter worth about $61,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $92.27 on Friday. The firm has a market cap of $36.21 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 4.44 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. The firm's 50-day simple moving average is $88.09 and its two-hundred day simple moving average is $94.22.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down .2% on a year-over-year basis. During the same quarter 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. Analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders 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 annualized dividend and a dividend yield of 1.8%. Otis Worldwide's payout ratio is 44.44%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays cut their price target on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a report on Thursday, July 24th. Zacks Research cut shares of Otis Worldwide from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. JPMorgan Chase & Co. boosted their price target on shares of Otis Worldwide from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Wolfe Research upgraded shares of Otis Worldwide from an "underperform" rating to a "peer perform" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada cut their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $103.00.

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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