Howard Capital Management Inc. Purchases 285 Shares of Otis Worldwide Corporation $OTIS

Howard Capital Management Inc. grew its position in Otis Worldwide Corporation (NYSE:OTIS) by 12.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,662 shares of the company’s stock after buying an additional 285 shares during the period. Howard Capital Management Inc.’s holdings in Otis Worldwide were worth $264,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OTIS. Wayfinding Financial LLC acquired a new position in shares of Otis Worldwide during the first quarter worth $31,000. Cheviot Value Management LLC acquired a new position in shares of Otis Worldwide during the first quarter worth $31,000. Chilton Capital Management LLC acquired a new position in shares of Otis Worldwide during the second quarter worth $31,000. Flaharty Asset Management LLC acquired a new position in shares of Otis Worldwide during the first quarter worth $38,000. Finally, Toth Financial Advisory Corp acquired a new position in shares of Otis Worldwide during the second quarter worth $45,000. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $92.57 on Friday. Otis Worldwide Corporation has a one year low of $84.25 and a one year high of $106.83. The firm has a market cap of $36.33 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 3.63 and a beta of 1.00. The firm’s fifty day moving average is $89.70 and its two-hundred day moving average is $93.11.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.00 by $0.05. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue 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 fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price target 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. Barclays upped their price target on Otis Worldwide from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday. Royal Bank Of Canada dropped their price objective on shares of Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Wolfe Research set a $109.00 price objective on shares of Otis Worldwide and gave the company an “outperform” rating in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and a consensus price target of $104.88.

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.