Free Trial

Otis Worldwide Corporation (NYSE:OTIS) Shares Bought by Triasima Portfolio Management inc.

Otis Worldwide logo with Industrials background

Triasima Portfolio Management inc. boosted its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 78.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,969 shares of the company's stock after acquiring an additional 6,149 shares during the period. Triasima Portfolio Management inc.'s holdings in Otis Worldwide were worth $1,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OTIS. Transce3nd LLC acquired a new stake in Otis Worldwide during the 4th quarter worth $25,000. NBC Securities Inc. purchased a new position in shares of Otis Worldwide during the first quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Otis Worldwide during the fourth quarter worth about $28,000. Wayfinding Financial LLC purchased a new stake in shares of Otis Worldwide in the 1st quarter valued at about $31,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of Otis Worldwide in the 4th quarter valued at about $34,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Up 0.9%

Shares of Otis Worldwide stock traded up $0.93 on Wednesday, hitting $100.31. 1,899,870 shares of the company's stock traded hands, compared to its average volume of 2,320,493. Otis Worldwide Corporation has a 52-week low of $89.70 and a 52-week high of $106.83. The stock has a market cap of $39.59 billion, a P/E ratio of 25.68, a PEG ratio of 2.69 and a beta of 0.98. The firm's 50-day moving average is $97.20 and its 200 day moving average is $97.08.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. Otis Worldwide had a net margin of 10.83% and a negative return on equity of 31.72%. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. Equities research analysts forecast that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Friday, May 16th. This is an increase from Otis Worldwide's previous quarterly dividend of $0.39. Otis Worldwide's dividend payout ratio (DPR) is currently 44.09%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OTIS. Wells Fargo & Company boosted their price target on Otis Worldwide from $95.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Otis Worldwide in a research report on Monday. They set a "hold" rating and a $109.00 price target for the company. Barclays increased their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the company an "underweight" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their price target on Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada decreased their target price on shares of Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $104.63.

Check Out Our Latest Report on OTIS

Otis Worldwide Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Otis Worldwide (NYSE:OTIS)

Should You Invest $1,000 in Otis Worldwide Right Now?

Before you consider Otis Worldwide, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Otis Worldwide wasn't on the list.

While Otis Worldwide currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

 The Best Nuclear Energy Stocks to Buy Cover

Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Time to Cash Out? 5 Stocks to Drop Before Earnings
Watch Before Monday: Stocks to Load Up on Before Earnings
3 Hot Growth Stocks to Watch Right Now!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines