Arkadios Wealth Advisors Buys 1,333 Shares of Otis Worldwide Corporation $OTIS

Arkadios Wealth Advisors grew its stake in Otis Worldwide Corporation (NYSE:OTIS) by 21.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,514 shares of the company’s stock after purchasing an additional 1,333 shares during the period. Arkadios Wealth Advisors’ holdings in Otis Worldwide were worth $744,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Wayfinding Financial LLC bought a new stake in Otis Worldwide in the first quarter worth $31,000. Cheviot Value Management LLC bought a new stake in shares of Otis Worldwide in the 1st quarter worth about $31,000. Chilton Capital Management LLC bought a new stake in shares of Otis Worldwide in the 2nd quarter worth about $31,000. Flaharty Asset Management LLC bought a new stake in shares of Otis Worldwide in the 1st quarter worth about $38,000. Finally, Toth Financial Advisory Corp bought a new stake in shares of Otis Worldwide in the 2nd quarter worth about $45,000. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Stock Down 2.9%

Shares of NYSE OTIS opened at $90.11 on Tuesday. The business has a fifty day simple moving average of $89.85 and a two-hundred day simple moving average of $92.94. The firm has a market cap of $35.12 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Otis Worldwide Corporation has a twelve month low of $84.25 and a twelve month high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates 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 was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. On average, research analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Otis Worldwide’s payout ratio is currently 49.56%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OTIS. Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised their price target on Otis Worldwide from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. raised their price target 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 reiterated a “hold (c+)” rating on shares of Otis Worldwide in a research report on Wednesday, October 8th. Finally, Wolfe Research set a $109.00 target price on Otis Worldwide and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide currently has an average 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.