Banco Bilbao Vizcaya Argentaria S.A. Has $831,000 Position in Otis Worldwide Corporation $OTIS

Banco Bilbao Vizcaya Argentaria S.A. lessened its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 11.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,395 shares of the company’s stock after selling 1,052 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Otis Worldwide were worth $831,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cheviot Value Management LLC acquired a new stake in Otis Worldwide during the 1st quarter worth about $31,000. Chilton Capital Management LLC purchased a new stake in shares of Otis Worldwide in the second quarter worth approximately $31,000. Flaharty Asset Management LLC purchased a new stake in shares of Otis Worldwide in the first quarter worth approximately $38,000. Toth Financial Advisory Corp acquired a new stake in shares of Otis Worldwide during the second quarter worth approximately $45,000. Finally, Ransom Advisory Ltd purchased a new position in Otis Worldwide during the first quarter valued at approximately $48,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total value of $277,637.32. Following the transaction, the chief accounting officer owned 2,628 shares of the company’s stock, valued at $240,961.32. This trade represents a 53.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Otis Worldwide Price Performance

Otis Worldwide stock opened at $88.00 on Tuesday. Otis Worldwide Corporation has a one year low of $84.25 and a one year high of $106.83. The company’s fifty day moving average price is $90.57 and its two-hundred day moving average price is $92.58. The company has a market capitalization of $34.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 3.38 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.05. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.65 billion. Otis Worldwide had a negative return on equity of 30.67% and a net margin of 9.41%.The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, November 14th. Otis Worldwide’s dividend payout ratio (DPR) is 49.56%.

Analysts Set New Price Targets

OTIS has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a research note on Thursday. Finally, Barclays upped their target price on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $103.71.

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.