Landscape Capital Management L.L.C. Takes Position in Otis Worldwide Corporation $OTIS

Landscape Capital Management L.L.C. purchased a new position in Otis Worldwide Corporation (NYSE:OTIS – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,372 shares of the company’s stock, valued at approximately $528,000.

Other hedge funds have also recently made changes to their positions in the company. Camelot Portfolios LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Otis Worldwide in the 4th quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Otis Worldwide in the 4th quarter worth approximately $33,000. Reflection Asset Management bought a new position in shares of Otis Worldwide during the 4th quarter worth approximately $34,000. Finally, MidFirst Bank bought a new position in shares of Otis Worldwide during the 4th quarter worth approximately $35,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

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Otis Worldwide Stock Up 0.2%

OTIS stock opened at $71.65 on Monday. The stock has a market capitalization of $27.28 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a 52 week low of $69.16 and a 52 week high of $94.57. The firm has a 50 day moving average of $72.64 and a 200 day moving average of $77.56.

Otis Worldwide (NYSE:OTIS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio is presently 45.24%.

Analysts Set New Price Targets

Several brokerages have weighed in on OTIS. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a report on Monday, August 10th. Sanford C. Bernstein lowered their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Finally, Evercore reissued an “outperform” rating and issued a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $92.91.

Read Our Latest Stock Report on Otis Worldwide

About Otis Worldwide

(Free Report)

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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