Otis Worldwide Corporation $OTIS Shares Acquired by Mill Capital Management LLC

by · The Cerbat Gem

Mill Capital Management LLC grew its position in Otis Worldwide Corporation (NYSE:OTIS – Free Report) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,220 shares of the company’s stock after purchasing an additional 423 shares during the period. Mill Capital Management LLC’s holdings in Otis Worldwide were worth $12,696,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Otis Worldwide in the first quarter valued at about $31,000. Cheviot Value Management LLC acquired a new position in shares of Otis Worldwide in the first quarter valued at about $31,000. Chilton Capital Management LLC acquired a new position in shares of Otis Worldwide in the second quarter valued at about $31,000. Flaharty Asset Management LLC acquired a new position in shares of Otis Worldwide in the first quarter valued at about $38,000. Finally, Toth Financial Advisory Corp acquired a new position in shares of Otis Worldwide in the second quarter valued at about $45,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OTIS has been the topic of a number of research reports. Zacks Research raised Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. upped their target price on Otis Worldwide from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. Morgan Stanley upped their target price on Otis Worldwide from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada lowered 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, July 28th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and a consensus price target of $104.88.

Check Out Our Latest Stock Analysis on Otis Worldwide

Otis Worldwide Trading Up 0.3%

Shares of OTIS stock opened at $92.80 on Friday. The company has a market capitalization of $36.42 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.60 and a beta of 1.00. The business’s 50 day moving average is $89.78 and its two-hundred day moving average is $93.07. Otis Worldwide Corporation has a 12-month low of $84.25 and a 12-month high of $106.83.

Otis Worldwide (NYSE:OTIS – Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, research analysts predict that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. Otis Worldwide’s dividend payout ratio is currently 49.56%.

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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