Union Bancaire Privee UBP SA Invests $937,000 in Otis Worldwide Corporation $OTIS

Union Bancaire Privee UBP SA purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,248 shares of the company’s stock, valued at approximately $937,000.

Several other institutional investors have also recently bought and sold shares of OTIS. Norges Bank acquired a new position in Otis Worldwide during the 2nd quarter valued at about $721,614,000. Marshall Wace LLP grew its stake in Otis Worldwide by 5,291.5% in the 2nd quarter. Marshall Wace LLP now owns 2,844,524 shares of the company’s stock valued at $281,665,000 after purchasing an additional 2,791,765 shares during the period. Vanguard Group Inc. grew its stake in Otis Worldwide by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 48,587,153 shares of the company’s stock valued at $4,811,100,000 after purchasing an additional 1,991,860 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Otis Worldwide during the 2nd quarter valued at $114,319,000. Finally, AQR Capital Management LLC raised its stake in shares of Otis Worldwide by 341.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,150,451 shares of the company’s stock worth $112,606,000 after purchasing an additional 889,581 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Up 1.1%

OTIS opened at $88.97 on Thursday. The firm has a 50-day moving average price of $89.54 and a 200-day moving average price of $91.16. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83. The company has a market capitalization 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) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.65 billion. During the same period in the prior year, the company posted $0.96 EPS. Otis Worldwide’s revenue was up 4.0% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, sell-side 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 declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 14th. Otis Worldwide’s dividend payout ratio (DPR) is presently 49.56%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OTIS shares. Wall Street Zen raised shares of Otis Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Wolfe Research set a $109.00 target price on shares of Otis Worldwide and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Otis Worldwide in a report on Monday. BNP Paribas Exane upgraded Otis Worldwide from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research note on Tuesday, December 9th. Finally, BNP Paribas raised Otis Worldwide from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and an average price target of $103.50.

Insider Buying and Selling at Otis Worldwide

In related news, CAO Michael Patrick Ryan sold 3,028 shares of the business’s stock in a transaction 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 sale, the chief accounting officer directly owned 2,628 shares in the company, valued at approximately $240,961.32. The trade was a 53.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Otis Worldwide 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.