Stevens Capital Management LP acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,528 shares of the company’s stock, valued at approximately $1,007,000.
A number of other large investors also recently bought and sold shares of OTIS. Root Financial Partners LLC bought a new position in Otis Worldwide during the third quarter worth $26,000. Stance Capital LLC bought a new position in Otis Worldwide in the third quarter worth about $27,000. Camelot Portfolios LLC bought a new stake in Otis Worldwide in the fourth quarter valued at $26,000. Rakuten Investment Management Inc. bought a new position in shares of Otis Worldwide during the third quarter worth about $31,000. Finally, Westside Investment Management Inc. increased its holdings in shares of Otis Worldwide by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares during the period. Institutional investors own 88.03% of the company’s stock.
Insider Buying and Selling
In other Otis Worldwide news, CAO Michael Patrick Ryan sold 1,182 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $90.06, for a total value of $106,450.92. Following the transaction, the chief accounting officer directly owned 3,504 shares of the company’s stock, valued at approximately $315,570.24. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Judith Fran Marks sold 56,107 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $90.89, for a total transaction of $5,099,565.23. Following the sale, the chief executive officer owned 231,072 shares of the company’s stock, valued at $21,002,134.08. The trade was a 19.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,233 shares of company stock valued at $9,628,850 over the last ninety days. Insiders own 0.14% of the company’s stock.
Otis Worldwide Stock Performance
Otis Worldwide (NYSE:OTIS – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, research analysts predict that Otis Worldwide Corporation will post 4.18 earnings per share for the current fiscal year.
Otis Worldwide Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio is presently 44.68%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. JPMorgan Chase & Co. downgraded Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Friday, January 30th. Royal Bank Of Canada decreased their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Barclays lowered their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $97.64.
Check Out Our Latest Report on Otis Worldwide
About Otis Worldwide
Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.
In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.
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