Groupe la Francaise Has $5.09 Million Stake in Otis Worldwide Corporation $OTIS

Groupe la Francaise raised its position in Otis Worldwide Corporation (NYSE:OTIS) by 19.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 51,666 shares of the company’s stock after acquiring an additional 8,248 shares during the period. Groupe la Francaise’s holdings in Otis Worldwide were worth $5,093,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OTIS. Berkshire Money Management Inc. boosted its position in Otis Worldwide by 5.0% during the second quarter. Berkshire Money Management Inc. now owns 2,100 shares of the company’s stock valued at $208,000 after purchasing an additional 100 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Otis Worldwide by 0.8% in the 2nd quarter. Park Avenue Securities LLC now owns 13,876 shares of the company’s stock valued at $1,374,000 after acquiring an additional 104 shares in the last quarter. PFG Investments LLC increased its position in shares of Otis Worldwide by 3.7% in the second quarter. PFG Investments LLC now owns 3,428 shares of the company’s stock worth $339,000 after purchasing an additional 121 shares during the period. PKS Advisory Services LLC boosted its position in shares of Otis Worldwide by 4.9% during the 2nd quarter. PKS Advisory Services LLC now owns 2,575 shares of the company’s stock worth $255,000 after acquiring an additional 121 shares in the last quarter. Finally, MSH Capital Advisors LLC raised its holdings in shares of Otis Worldwide by 5.4% during the 2nd quarter. MSH Capital Advisors LLC now owns 2,362 shares of the company’s stock worth $234,000 after buying an additional 122 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OTIS. Wolfe Research set a $109.00 price target on shares of Otis Worldwide and gave the company an “outperform” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday. Barclays raised their price target on shares of Otis Worldwide from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Wells Fargo & Company raised their price objective on Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Finally, Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $103.71.

Insider Buying and Selling

In other news, CAO Michael Patrick Ryan sold 3,028 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer owned 2,628 shares in the company, valued at approximately $240,961.32. This trade represents a 53.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

Otis Worldwide Trading Down 0.5%

Shares of OTIS opened at $86.82 on Thursday. The stock has a 50 day moving average of $90.25 and a 200 day moving average of $91.81. The company has a market capitalization of $33.83 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 3.32 and a beta of 1.01. Otis Worldwide Corporation has a 12 month low of $84.25 and a 12 month high of $106.83.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. Otis Worldwide had a negative return on equity of 30.67% and a net margin of 9.41%.The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the company earned $0.96 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. As a group, equities research analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

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

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.