Integrity Alliance LLC. Makes New $667,000 Investment in Otis Worldwide Corporation $OTIS

Key Points

• Integrity Alliance LLC. has acquired a new position in Otis Worldwide Corporation, purchasing 6,467 shares valued at approximately $667,000.
• Analysts have mixed opinions on Otis Worldwide, with a consensus rating of "Hold" and an average target price of $102.50.
• Otis Worldwide recently announced a quarterly dividend of $0.42, representing an annualized yield of 1.9% and a payout ratio of 44.44%.

Integrity Alliance LLC. acquired a new position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,467 shares of the company's stock, valued at approximately $667,000.

Several other institutional investors have also made changes to their positions in OTIS. NBC Securities Inc. acquired a new position in Otis Worldwide in the first quarter worth about $25,000. Wayfinding Financial LLC bought a new position in shares of Otis Worldwide during the 1st quarter worth approximately $31,000. Cheviot Value Management LLC acquired a new stake in Otis Worldwide in the 1st quarter valued at $31,000. Orion Capital Management LLC bought a new stake in Otis Worldwide in the fourth quarter valued at $35,000. Finally, Ransom Advisory Ltd acquired a new position in Otis Worldwide during the first quarter worth $48,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Down 0.3%

OTIS stock traded down $0.26 during trading on Friday, hitting $89.12. The company had a trading volume of 3,610,840 shares, compared to its average volume of 3,224,314. The firm has a 50-day moving average price of $90.36 and a 200-day moving average price of $95.23. Otis Worldwide Corporation has a 12 month low of $84.25 and a 12 month high of $106.83. The stock has a market cap of $34.98 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 4.28 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The business's revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

The company 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 annualized dividend 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%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OTIS shares. Royal Bank Of Canada cut their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, July 28th. Barclays cut their target price on shares of Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a research note on Thursday, July 24th. Wells Fargo & Company reduced their target price on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. 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. Finally, Morgan Stanley lifted their price objective 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. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $102.50.

Otis Worldwide 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.