Bryn Mawr Trust Advisors LLC Buys Shares of 57,503 Otis Worldwide Corporation $OTIS

Key Points

• Bryn Mawr Trust Advisors initiated a new position in Otis Worldwide, buying 57,503 shares worth about $5.0 million in the fourth quarter.
• Several insiders recently sold shares, including CAO Michael Patrick Ryan and insider Montlivault Stephane De, while institutional investors still hold 88.03% of the stock.
• Otis reported quarterly results that missed both earnings and revenue estimates, and analysts currently rate the stock a Hold with a consensus price target of $97.64. The company also raised its quarterly dividend to $0.44 per share.

Bryn Mawr Trust Advisors LLC bought a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 57,503 shares of the company's stock, valued at approximately $5,023,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OTIS. Jones Financial Companies Lllp boosted its position in shares of Otis Worldwide by 3.4% during the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company's stock worth $949,000 after buying an additional 304 shares during the period. Empowered Funds LLC boosted its position in shares of Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company's stock worth $928,000 after buying an additional 857 shares during the period. Acadian Asset Management LLC boosted its position in shares of Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock worth $417,000 after buying an additional 1,574 shares during the period. Baird Financial Group Inc. boosted its position in shares of Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company's stock worth $3,193,000 after buying an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company's stock worth $1,012,000 after buying an additional 1,196 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Otis Worldwide

In other Otis Worldwide news, CAO Michael Patrick Ryan sold 1,182 shares of Otis Worldwide stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $90.06, for a total transaction of $106,450.92. Following the transaction, the chief accounting officer directly owned 3,504 shares in the company, valued at approximately $315,570.24. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Montlivault Stephane De sold 47,944 shares of Otis Worldwide stock in a transaction that occurred on Thursday, February 12th. The stock was 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 in the company, valued at approximately $2,691,486. The trade was a 62.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.14% of the company's stock.

Otis Worldwide Stock Performance

NYSE OTIS opened at $74.83 on Friday. The stock has a market capitalization of $28.71 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.45 and a beta of 0.95. Otis Worldwide Corporation has a 1 year low of $74.62 and a 1 year high of $101.42. The business's fifty day moving average is $81.47 and its two-hundred day moving average is $86.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly 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 company had revenue of $3.57 billion during 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%. Otis Worldwide's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, research analysts forecast that Otis Worldwide Corporation will post 4.18 earnings per share for the current year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders 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%. 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 presently 44.68%.

Analyst Upgrades and Downgrades

OTIS has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on Otis Worldwide from $92.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Wall Street Zen downgraded Otis Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. downgraded Otis Worldwide from an "overweight" rating to a "neutral" rating and set a $98.00 price objective for the company. in a research report on Friday, January 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Otis Worldwide in a research report on Friday, March 27th. Finally, Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research report on Friday, April 24th. 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $97.64.

About Otis Worldwide

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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