Otis Worldwide (NYSE:OTIS) CAO Sells $277,637.32 in Stock

Otis Worldwide Corporation (NYSE:OTIS) CAO Michael Patrick Ryan sold 3,028 shares of Otis Worldwide stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $91.69, for a total value of $277,637.32. Following the transaction, the chief accounting officer directly owned 2,628 shares of the company’s stock, valued at $240,961.32. This trade represents a 53.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Otis Worldwide Stock Performance

NYSE OTIS traded down $0.06 during trading hours on Friday, reaching $91.09. The company’s stock had a trading volume of 1,879,897 shares, compared to its average volume of 2,755,181. Otis Worldwide Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $106.83. The stock has a market cap of $35.50 billion, a PE ratio of 26.87, a PEG ratio of 3.48 and a beta of 1.00. The company’s 50-day moving average is $90.07 and its two-hundred day moving average is $92.86.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.05. Otis Worldwide had a negative return on equity of 30.67% and a net margin of 9.41%.The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the firm posted $0.96 EPS. The company’s quarterly 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. Equities analysts expect that Otis Worldwide Corporation will post 4.04 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, November 14th. Otis Worldwide’s dividend payout ratio is currently 49.56%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OTIS. Root Financial Partners LLC acquired a new stake in Otis Worldwide during the third quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in Otis Worldwide during the first quarter valued at approximately $31,000. Chilton Capital Management LLC acquired a new position in Otis Worldwide during the second quarter valued at approximately $31,000. Nemes Rush Group LLC grew its stake in Otis Worldwide by 75.4% during the second quarter. Nemes Rush Group LLC now owns 314 shares of the company’s stock worth $31,000 after buying an additional 135 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of Otis Worldwide in the third quarter worth $31,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on OTIS shares. Royal Bank Of Canada dropped their price objective on Otis Worldwide from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otis Worldwide in a research note on Wednesday, October 8th. Zacks Research raised shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Wells Fargo & Company upped their price objective on shares of Otis Worldwide from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Wolfe Research set a $109.00 target price on shares of 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average 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.