Tealwood Asset Management Inc. Invests $1.57 Million in Otis Worldwide Corporation $OTIS

Key Points

• Tealwood Asset Management Inc. has invested approximately $1.57 million in Otis Worldwide Corporation, acquiring 15,844 shares in the 2nd quarter.
• Otis Worldwide has reported earnings per share (EPS) of $1.05 for the last quarter, surpassing analyst expectations by $0.02, although revenue was slightly below estimates.
• The company has declared a quarterly dividend of $0.42, reflecting a yield of 1.8% with a payout ratio of 44.44%.

Tealwood Asset Management Inc. purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,844 shares of the company's stock, valued at approximately $1,569,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in Otis Worldwide in the 1st quarter valued at $25,000. Wayfinding Financial LLC acquired a new position in shares of Otis Worldwide during the first quarter valued at $31,000. Cheviot Value Management LLC acquired a new position in Otis Worldwide during the 1st quarter worth $31,000. Flaharty Asset Management LLC acquired a new stake in shares of Otis Worldwide in the 1st quarter worth approximately $38,000. Finally, Toth Financial Advisory Corp acquired a new stake in Otis Worldwide in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 88.03% of the company's stock.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $91.28 on Tuesday. The firm has a market cap of $35.82 billion, a P/E ratio of 24.15, a P/E/G ratio of 4.35 and a beta of 0.98. The firm's fifty day moving average is $88.15 and its 200-day moving average is $94.32. Otis Worldwide Corporation has a 52 week low of $84.25 and a 52 week high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. Otis Worldwide'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. As a group, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share 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 $0.42 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.68 annualized dividend and a yield of 1.8%. Otis Worldwide's payout ratio is currently 44.44%.

Analyst Ratings Changes

OTIS has been the subject of a number of research analyst reports. 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 report on Thursday, July 24th. Zacks Research lowered Otis Worldwide from a "hold" rating to a "strong sell" rating in a research report on Monday, September 15th. Morgan Stanley raised their target price on shares of Otis Worldwide from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada reduced their price target on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on Otis Worldwide from $101.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $103.00.

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.

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