Sanctuary Advisors LLC lifted its holdings in Otis Worldwide Corporation (NYSE:OTIS – Free Report) by 51.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,218 shares of the company’s stock after buying an additional 11,646 shares during the period. Sanctuary Advisors LLC’s holdings in Otis Worldwide were worth $2,638,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OTIS. Mill Capital Management LLC raised its holdings in Otis Worldwide by 0.4% in the 1st quarter. Mill Capital Management LLC now owns 144,443 shares of the company’s stock valued at $11,134,000 after acquiring an additional 606 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Otis Worldwide by 10.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,489 shares of the company’s stock worth $346,000 after purchasing an additional 442 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Otis Worldwide by 30.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 14,840 shares of the company’s stock worth $1,144,000 after purchasing an additional 3,500 shares during the last quarter. ABC Arbitrage SA purchased a new stake in shares of Otis Worldwide in the first quarter valued at approximately $336,000. Finally, Calamos Wealth Management LLC purchased a new stake in shares of Otis Worldwide in the first quarter valued at approximately $213,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Royal Bank Of Canada dropped their target price on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Wells Fargo & Company lowered their price target on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Finally, Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Otis Worldwide presently has an average rating of “Hold” and a consensus price target of $96.55.
Otis Worldwide Stock Up 0.1%
NYSE:OTIS opened at $73.55 on Tuesday. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $101.14. The stock’s fifty day moving average is $72.08 and its two-hundred day moving average is $80.38. The company has a market capitalization of $28.22 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.64 and a beta of 0.90.
Otis Worldwide (NYSE:OTIS – Get Free Report) last released its quarterly 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 business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts anticipate that Otis Worldwide Corporation will post 4.16 earnings per share for the current fiscal year.
Otis Worldwide 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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