Clarius Group LLC Sells 380 Shares of Otis Worldwide Corporation $OTIS

Clarius Group LLC lessened its position in Otis Worldwide Corporation (NYSE:OTIS) by 14.1% during the second quarter, Holdings Channel reports. The fund owned 2,320 shares of the company’s stock after selling 380 shares during the period. Clarius Group LLC’s holdings in Otis Worldwide were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OTIS. JPMorgan Chase & Co. increased its stake in Otis Worldwide by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 37,920,025 shares of the company’s stock valued at $3,913,347,000 after acquiring an additional 2,396,134 shares during the last quarter. Vanguard Group Inc. increased its stake in Otis Worldwide by 3.5% in the first quarter. Vanguard Group Inc. now owns 46,595,293 shares of the company’s stock valued at $4,808,634,000 after acquiring an additional 1,591,450 shares during the last quarter. Nuveen LLC bought a new position in Otis Worldwide in the first quarter valued at $91,989,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Otis Worldwide by 16.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,138,076 shares of the company’s stock valued at $427,049,000 after acquiring an additional 571,489 shares during the last quarter. Finally, PineStone Asset Management Inc. increased its stake in Otis Worldwide by 13.3% in the second quarter. PineStone Asset Management Inc. now owns 4,639,065 shares of the company’s stock valued at $459,360,000 after acquiring an additional 543,933 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

NYSE OTIS opened at $90.36 on Wednesday. The stock has a market capitalization of $35.47 billion, a PE ratio of 23.91, a PEG ratio of 3.56 and a beta of 1.00. Otis Worldwide Corporation has a 1 year low of $84.25 and a 1 year high of $106.83. The business’s 50-day moving average is $88.25 and its 200 day moving average is $93.94.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.Otis Worldwide’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. As a group, equities research analysts anticipate that Otis Worldwide Corporation will post 4.04 earnings per share 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 paid a $0.42 dividend. The ex-dividend date of this dividend 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 presently 44.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OTIS shares. Royal Bank Of Canada reduced their price objective 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. Morgan Stanley raised their price objective on Otis Worldwide from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research note on Saturday, September 27th. Finally, Barclays reduced their price objective on Otis Worldwide from $92.00 to $90.00 and set an “underweight” rating on the stock in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and an average price target of $103.25.

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.