Versor Investments LP acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,655 shares of the company’s stock, valued at approximately $1,105,000.
A number of other institutional investors and hedge funds have also bought and sold shares of OTIS. Jones Financial Companies Lllp increased its stake in Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock valued at $949,000 after purchasing an additional 304 shares in the last quarter. Empowered Funds LLC increased its stake in Otis Worldwide by 10.5% during the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after purchasing an additional 857 shares in the last quarter. Acadian Asset Management LLC increased its stake in Otis Worldwide by 63.7% during the 1st quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after purchasing an additional 1,574 shares in the last quarter. Baird Financial Group Inc. increased its stake in Otis Worldwide by 7.1% during the 2nd quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after purchasing an additional 2,132 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Otis Worldwide by 13.3% during the 2nd quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock valued at $1,012,000 after purchasing an additional 1,196 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Wolfe Research lowered shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Barclays reduced their price target on shares of 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 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Evercore assumed coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They issued an “outperform” rating and a $100.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Otis Worldwide in a research note on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $97.64.
Insider Transactions at Otis Worldwide
In other Otis Worldwide news, insider Montlivault Stephane De sold 47,944 shares of Otis Worldwide stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $92.25, for a total transaction of $4,422,834.00. Following the transaction, the insider owned 29,176 shares of the company’s stock, valued at $2,691,486. The trade was a 62.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.
Otis Worldwide Trading Up 0.2%
Shares of NYSE OTIS opened at $74.18 on Wednesday. The firm has a 50 day moving average of $80.46 and a 200 day moving average of $86.20. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 2.43 and a beta of 0.95. Otis Worldwide Corporation has a 12-month low of $73.11 and a 12-month high of $101.42.
Otis Worldwide (NYSE:OTIS – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business 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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Sell-side analysts predict that Otis Worldwide Corporation will post 4.18 EPS for the current year.
Otis Worldwide Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 15th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.4%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is presently 44.68%.
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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