5,335 Shares in Otis Worldwide Corporation $OTIS Acquired by Trexquant Investment LP

Trexquant Investment LP purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,335 shares of the company's stock, valued at approximately $551,000.

Several other hedge funds also recently modified their holdings of OTIS. Cetera Investment Advisers lifted its holdings in shares of Otis Worldwide by 4.3% during the fourth quarter. Cetera Investment Advisers now owns 46,797 shares of the company's stock valued at $4,334,000 after acquiring an additional 1,943 shares during the period. EP Wealth Advisors LLC increased its position in Otis Worldwide by 3.4% in the fourth quarter. EP Wealth Advisors LLC now owns 6,625 shares of the company's stock worth $614,000 after purchasing an additional 218 shares during the period. Focus Partners Wealth boosted its holdings in Otis Worldwide by 51.0% during the fourth quarter. Focus Partners Wealth now owns 34,386 shares of the company's stock worth $3,184,000 after buying an additional 11,615 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Otis Worldwide by 7.1% during the fourth quarter. Janus Henderson Group PLC now owns 70,485 shares of the company's stock worth $6,527,000 after buying an additional 4,674 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Otis Worldwide by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,572 shares of the company's stock worth $4,128,000 after buying an additional 1,515 shares during the last quarter. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Price Performance

Shares of OTIS stock traded down $0.26 during trading hours on Friday, reaching $89.12. The company had a trading volume of 3,610,840 shares, compared to its average volume of 3,228,639. Otis Worldwide Corporation has a 12 month low of $84.25 and a 12 month high of $106.83. The business has a fifty day simple moving average of $90.36 and a 200-day simple moving average of $95.23. The company has a market cap of $34.98 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 4.30 and a beta of 0.98.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates 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 negative return on equity of 30.95% and a net margin of 10.68%.Otis Worldwide's quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, equities research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 15th. Otis Worldwide's payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays cut their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" 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 target price on the stock. Morgan Stanley upped their price objective on Otis Worldwide from $97.00 to $105.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. cut their target price on Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Finally, Wolfe Research upgraded Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Otis Worldwide has an average rating of "Hold" and an average price target of $102.50.

About Otis Worldwide

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.