XTX Topco Ltd Has $2.81 Million Position in Otis Worldwide Corporation (NYSE:OTIS)

XTX Topco Ltd raised its position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 208.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,251 shares of the company's stock after buying an additional 18,407 shares during the period. XTX Topco Ltd's holdings in Otis Worldwide were worth $2,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in OTIS. Transce3nd LLC purchased a new position in Otis Worldwide in the fourth quarter valued at $25,000. NBC Securities Inc. purchased a new stake in Otis Worldwide during the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Otis Worldwide during the fourth quarter worth about $28,000. Wayfinding Financial LLC purchased a new stake in Otis Worldwide in the first quarter valued at approximately $31,000. Finally, Orion Capital Management LLC acquired a new stake in Otis Worldwide during the 4th quarter worth $35,000. Institutional investors and hedge funds own 88.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OTIS shares. Wolfe Research upgraded Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday, July 25th. Royal Bank Of Canada reduced their target price on Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday. Wells Fargo & Company dropped their price target on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. 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 research report on Tuesday, July 8th. Finally, 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 note on Thursday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $102.50.

Otis Worldwide Stock Performance

Shares of OTIS stock traded down $0.74 during trading on Thursday, hitting $85.69. 4,071,348 shares of the company were exchanged, compared to its average volume of 2,956,224. The firm has a market capitalization of $33.63 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 4.15 and a beta of 0.98. The business's 50-day simple moving average is $96.31 and its 200 day simple moving average is $97.16. Otis Worldwide Corporation has a twelve month low of $85.45 and a twelve month high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, topping 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the business posted $1.06 earnings per share. Otis Worldwide's revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts forecast that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 15th. Otis Worldwide's dividend payout ratio (DPR) is 44.44%.

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.