J. Safra Sarasin Holding AG Acquires 8,079 Shares of Otis Worldwide Corporation $OTIS

Key Points

• J. Safra Sarasin Holding AG increased its stake in Otis Worldwide Corporation by 2.4%, acquiring an additional 8,079 shares and holding a total of 339,390 shares valued at approximately $33.6 million.
• Several institutional investors have recently entered positions in Otis Worldwide, leading to 88.03% institutional ownership of the company's stock.
• Otis Worldwide has declared a quarterly dividend of $0.42 per share, representing an annualized yield of 1.8%, with a current dividend payout ratio of 44.44%.

J. Safra Sarasin Holding AG lifted its stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,390 shares of the company's stock after purchasing an additional 8,079 shares during the period. J. Safra Sarasin Holding AG owned about 0.09% of Otis Worldwide worth $33,606,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in Otis Worldwide during the 1st quarter worth $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 shares of Otis Worldwide in the 1st quarter worth $31,000. Flaharty Asset Management LLC purchased a new stake in Otis Worldwide in the first quarter valued at about $38,000. Finally, Toth Financial Advisory Corp purchased a new stake in Otis Worldwide during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 88.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on OTIS shares. Barclays lowered 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 downgraded Otis Worldwide from a "hold" rating to a "strong sell" rating in a research report on Monday, September 15th. Morgan Stanley raised their price target on shares of Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. 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 research report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Otis Worldwide in a research note on Monday, July 14th. They set a "hold" rating and a $109.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $103.00.

Otis Worldwide Stock Up 1.0%

NYSE:OTIS opened at $92.36 on Thursday. Otis Worldwide Corporation has a 52 week low of $84.25 and a 52 week high of $106.83. The stock's fifty day moving average is $88.03 and its two-hundred day moving average is $94.29. The company has a market capitalization of $36.25 billion, a P/E ratio of 24.43, a P/E/G ratio of 4.40 and a beta of 1.00.

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 the consensus estimate of $1.03 by $0.02. The firm 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%. Otis Worldwide's revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Sell-side analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 15th. Otis Worldwide's dividend payout ratio (DPR) is currently 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.

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