Diversify Advisory Services LLC acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 16,244 shares of the company’s stock, valued at approximately $1,189,000.
Other large investors have also bought and sold shares of the company. Camelot Portfolios LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide during the 4th quarter worth approximately $27,000. MidFirst Bank purchased a new position in Otis Worldwide during the 2nd quarter worth approximately $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Otis Worldwide during the 2nd quarter valued at $28,000. Finally, Elevation Wealth Partners LLC raised its stake in Otis Worldwide by 1,910.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock valued at $29,000 after purchasing an additional 382 shares during the period. Institutional investors own 88.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research report on Monday, August 10th. Evercore reissued an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Barclays reduced their price objective on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. UBS Group set a $105.00 target price on Otis Worldwide in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein dropped their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Otis Worldwide has an average rating of “Hold” and a consensus price target of $92.91.
Otis Worldwide Trading Up 2.6%
Shares of NYSE:OTIS opened at $72.15 on Thursday. The firm has a market cap of $27.46 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 2.48 and a beta of 0.89. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The business has a fifty day simple moving average of $72.59 and a 200 day simple moving average of $77.76.
Otis Worldwide (NYSE:OTIS – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, sell-side analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current year.
Otis Worldwide Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. Otis Worldwide’s payout ratio is presently 45.24%.
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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