Otis Worldwide Corporation $OTIS Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 10.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,691 shares of the company's stock after selling 11,592 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Otis Worldwide were worth $9,970,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new position in shares of Otis Worldwide in the first quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Otis Worldwide by 15.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 828 shares of the company's stock valued at $85,000 after purchasing an additional 110 shares during the period. Procyon Advisors LLC boosted its holdings in Otis Worldwide by 293.4% in the first quarter. Procyon Advisors LLC now owns 8,528 shares of the company's stock valued at $880,000 after purchasing an additional 6,360 shares during the period. Gateway Investment Advisers LLC grew its stake in Otis Worldwide by 0.4% during the 1st quarter. Gateway Investment Advisers LLC now owns 50,672 shares of the company's stock worth $5,229,000 after purchasing an additional 221 shares in the last quarter. Finally, Wedmont Private Capital increased its holdings in Otis Worldwide by 18.8% during the 1st quarter. Wedmont Private Capital now owns 7,606 shares of the company's stock worth $738,000 after purchasing an additional 1,206 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Otis Worldwide Trading Down 0.7%

OTIS stock opened at $91.57 on Monday. The stock has a market cap of $35.94 billion, a P/E ratio of 24.23, a PEG ratio of 3.59 and a beta of 1.00. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The company's 50 day moving average is $88.13 and its two-hundred day moving average is $94.04.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. Otis Worldwide had a net margin of 10.68% and a negative return on equity of 30.95%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm posted $1.06 EPS. The company'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 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. Otis Worldwide's payout ratio is presently 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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