Capital Fund Management S.A. Boosts Stake in Otis Worldwide Corporation $OTIS

Capital Fund Management S.A. grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 63.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 328,703 shares of the company’s stock after purchasing an additional 127,860 shares during the period. Capital Fund Management S.A. owned approximately 0.08% of Otis Worldwide worth $32,548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Otis Worldwide by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock valued at $3,913,347,000 after buying an additional 2,396,134 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Otis Worldwide in the 1st quarter valued at approximately $612,000. State of Wyoming lifted its holdings in shares of Otis Worldwide by 278.6% in the 1st quarter. State of Wyoming now owns 7,406 shares of the company’s stock worth $764,000 after acquiring an additional 5,450 shares during the last quarter. Groupe la Francaise lifted its holdings in shares of Otis Worldwide by 14.2% in the 1st quarter. Groupe la Francaise now owns 43,418 shares of the company’s stock worth $4,472,000 after acquiring an additional 5,391 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Otis Worldwide by 53.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 470,781 shares of the company’s stock worth $48,585,000 after purchasing an additional 163,231 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Otis Worldwide

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 3,028 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $91.69, for a total transaction of $277,637.32. Following the completion of the transaction, the chief accounting officer owned 2,628 shares in the company, valued at $240,961.32. The trade was a 53.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.

Otis Worldwide Trading Up 0.3%

NYSE:OTIS opened at $88.68 on Friday. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83. The firm has a market cap of $34.56 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 3.38 and a beta of 1.00. The stock has a fifty day moving average price of $90.36 and a 200 day moving average price of $92.12.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.05. The company had revenue of $3.69 billion for 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%.Otis Worldwide’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Equities analysts forecast that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Dividend Announcement

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

Analysts Set New Price Targets

OTIS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Otis Worldwide from $105.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Zacks Research upgraded Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Wolfe Research set a $109.00 target price on Otis Worldwide and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Wells Fargo & Company raised their target price on Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Finally, Barclays boosted their price target on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $103.71.

Otis Worldwide Company 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.