Citizens National Bank Trust Department Reduces Position in Otis Worldwide Corporation $OTIS

Citizens National Bank Trust Department cut its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 17.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,610 shares of the company’s stock after selling 346 shares during the period. Citizens National Bank Trust Department’s holdings in Otis Worldwide were worth $159,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Shell Asset Management Co. boosted its position in shares of Otis Worldwide by 121.7% during the second quarter. Shell Asset Management Co. now owns 19,370 shares of the company’s stock valued at $1,918,000 after buying an additional 10,633 shares during the last quarter. Roundview Capital LLC boosted its position in shares of Otis Worldwide by 2.2% during the second quarter. Roundview Capital LLC now owns 29,996 shares of the company’s stock valued at $2,970,000 after buying an additional 638 shares during the last quarter. KLP Kapitalforvaltning AS boosted its position in shares of Otis Worldwide by 0.5% during the second quarter. KLP Kapitalforvaltning AS now owns 225,342 shares of the company’s stock valued at $22,313,000 after buying an additional 1,100 shares during the last quarter. Berkshire Money Management Inc. boosted its position in shares of 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 buying an additional 100 shares during the last quarter. Finally, Carolina Wealth Advisors LLC boosted its position in shares of Otis Worldwide by 31.9% during the second quarter. Carolina Wealth Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,155,000 after buying an additional 2,820 shares during the last quarter. 88.03% of the stock is owned by hedge funds and other institutional investors.

Otis Worldwide Stock Down 0.5%

NYSE OTIS opened at $90.36 on Wednesday. The stock’s 50-day moving average price is $88.25 and its 200-day moving average price is $93.94. Otis Worldwide Corporation has a 52 week low of $84.25 and a 52 week high of $106.83. The company has a market capitalization of $35.47 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. Research analysts anticipate that Otis Worldwide Corporation will post 4.04 EPS for the current year.

Otis Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a dividend of $0.42 per share. The ex-dividend date was Friday, August 15th. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Otis Worldwide’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Ratings Changes

A number of research firms have weighed in on OTIS. 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 report on Monday, July 28th. Wolfe Research set a $109.00 target price on Otis Worldwide and gave the company an “outperform” rating in a report on Wednesday. Zacks Research downgraded Otis Worldwide from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Deutsche Bank Aktiengesellschaft began coverage on Otis Worldwide in a report on Monday, July 14th. They issued a “hold” rating and a $109.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Otis Worldwide in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $103.88.

Otis Worldwide Company 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.