Clifford Swan Investment Counsel LLC Acquires 14,787 Shares of Otis Worldwide Corporation $OTIS

Key Points

• Clifford Swan Investment Counsel increased its Otis Worldwide stake by 16.3%, buying 14,787 shares to reach 105,779 shares valued at approximately $7.6 million. Institutional investors collectively own 88.03% of the company.
• Analyst sentiment remains mixed, with four Buy, five Hold, and one Sell rating; the consensus rating is Hold, with an average price target of $92.91.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while EPS of $1.01 matched estimates. The company also declared a quarterly dividend of $0.44 per share, implying a 2.5% yield.

Clifford Swan Investment Counsel LLC boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 16.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,779 shares of the company's stock after purchasing an additional 14,787 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Otis Worldwide were worth $7,574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in OTIS. BTG Pactual Asset Management US LLC lifted its position in shares of Otis Worldwide by 82.5% during the 2nd quarter. BTG Pactual Asset Management US LLC now owns 6,877 shares of the company's stock valued at $492,000 after acquiring an additional 3,108 shares during the period. Headlands Technologies LLC boosted its stake in shares of Otis Worldwide by 60.2% in the 2nd quarter. Headlands Technologies LLC now owns 10,027 shares of the company's stock valued at $718,000 after purchasing an additional 3,769 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Otis Worldwide during the second quarter worth $906,000. Benjamin Edwards Inc. grew its position in Otis Worldwide by 72.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 21,548 shares of the company's stock worth $1,543,000 after acquiring an additional 9,038 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Otis Worldwide by 1.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,871 shares of the company's stock worth $1,280,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company's stock.

Analyst Upgrades and Downgrades

OTIS has been the subject of a number of recent research reports. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a report on Monday, August 10th. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a report on Tuesday, July 28th. Sanford C. Bernstein dropped their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Finally, Evercore reiterated an "outperform" rating and set a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $92.91.

Otis Worldwide Price Performance

Shares of OTIS opened at $71.34 on Tuesday. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57. The company has a market cap of $27.16 billion, a PE ratio of 18.34, a P/E/G ratio of 2.53 and a beta of 0.89. The stock has a 50-day moving average of $72.52 and a 200-day moving average of $76.81.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting 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 business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the business earned $1.05 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Analysts expect that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.

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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