Sivia Capital Partners LLC bought a new position in shares of Otis Worldwide Corporation (NYSE:OTIS – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 7,863 shares of the company’s stock, valued at approximately $687,000.
A number of other institutional investors have also made changes to their positions in the business. Lido Advisors LLC increased its holdings in shares of Otis Worldwide by 12.9% during the 4th quarter. Lido Advisors LLC now owns 10,714 shares of the company’s stock worth $974,000 after acquiring an additional 1,227 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Otis Worldwide by 23.2% during the 4th quarter. CIBC Asset Management Inc now owns 199,893 shares of the company’s stock worth $17,460,000 after acquiring an additional 37,656 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Otis Worldwide by 18.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,286,436 shares of the company’s stock worth $199,720,000 after acquiring an additional 357,617 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Otis Worldwide during the 4th quarter worth approximately $1,592,000. Finally, BNP Paribas increased its holdings in shares of Otis Worldwide by 5.6% during the 4th quarter. BNP Paribas now owns 53,108 shares of the company’s stock worth $4,650,000 after acquiring an additional 2,832 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on OTIS. UBS Group set a $105.00 target price on Otis Worldwide in a report on Thursday, April 23rd. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Wells Fargo & Company decreased their price objective on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Royal Bank Of Canada decreased their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, Evercore initiated coverage on Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Otis Worldwide has an average rating of “Hold” and a consensus target price of $97.64.
Otis Worldwide Price Performance
Shares of NYSE OTIS opened at $69.84 on Friday. The stock’s fifty day moving average price is $75.86 and its two-hundred day moving average price is $83.82. The firm has a market cap of $26.80 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.28 and a beta of 0.91. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42.
Otis Worldwide (NYSE:OTIS – Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities analysts anticipate that Otis Worldwide Corporation will post 4.2 earnings per share for the current fiscal year.
Otis Worldwide Increases Dividend
The business also recently announced 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio is currently 46.81%.
Otis Worldwide Company Profile
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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