Union Bancaire Privee UBP SA Acquires New Holdings in Otis Worldwide Corporation $OTIS

by · The Cerbat Gem

Union Bancaire Privee UBP SA purchased a new position in Otis Worldwide Corporation (NYSE:OTIS – Free Report) during the 3rd quarter, HoldingsChannel reports. The fund purchased 10,248 shares of the company’s stock, valued at approximately $937,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State of Wyoming increased its position in shares of Otis Worldwide by 278.6% in the first quarter. State of Wyoming now owns 7,406 shares of the company’s stock worth $764,000 after purchasing an additional 5,450 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Otis Worldwide during the first quarter valued at approximately $612,000. Groupe la Francaise grew its stake in 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 buying an additional 5,391 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Otis Worldwide by 53.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 470,781 shares of the company’s stock worth $48,585,000 after buying an additional 163,231 shares during the last quarter. Finally, Compound Planning Inc. bought a new position in shares of Otis Worldwide in the 1st quarter worth $314,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Up 1.1%

NYSE OTIS opened at $88.97 on Thursday. The company has a 50-day simple moving average of $89.54 and a two-hundred day simple moving average of $91.16. 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 $34.67 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 3.35 and a beta of 1.01.

Otis Worldwide (NYSE:OTIS – Get Free Report) last released its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 14th were given a $0.42 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.9%. Otis Worldwide’s payout ratio is presently 49.56%.

Insiders Place Their Bets

In other news, CAO Michael Patrick Ryan sold 3,028 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $91.69, for a total transaction of $277,637.32. Following the completion of the sale, the chief accounting officer owned 2,628 shares of the company’s stock, valued at approximately $240,961.32. This 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. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

OTIS has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Wall Street Zen raised Otis Worldwide from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Wells Fargo & Company dropped their target price on Otis Worldwide from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $103.50.

Read Our Latest Stock Report on Otis Worldwide

About Otis Worldwide

(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.

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