Diversify Advisory Services LLC Invests $1.19 Million in Otis Worldwide Corporation $OTIS

Key Points

• Diversify Advisory Services purchased 16,244 shares of Otis Worldwide worth approximately $1.19 million in the second quarter. Institutional investors collectively own 88.03% of the company.
• Analyst sentiment is mixed, with four Buy, five Hold, and one Sell rating; the consensus rating is Hold with an average price target of $92.91, compared with shares opening at $72.15.
• Otis reported quarterly EPS of $1.01, matching estimates, while revenue rose 7.3% year over year to $3.86 billion. The company also declared a quarterly dividend of $0.44 per share, representing a 2.4% annualized yield.

Diversify Advisory Services LLC purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 16,244 shares of the company's stock, valued at approximately $1,189,000.

A number of other institutional investors have also modified their holdings of OTIS. Gables Capital Management Inc. acquired a new stake in Otis Worldwide during the second quarter worth about $34,000. Wealthfront Advisers LLC acquired a new position in Otis Worldwide in the second quarter valued at approximately $1,568,000. First National Bank of Omaha acquired a new position in Otis Worldwide in the second quarter valued at approximately $201,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Otis Worldwide during the second quarter valued at approximately $28,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of Otis Worldwide during the 2nd quarter worth approximately $300,000. Institutional investors own 88.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OTIS shares. Sanford C. Bernstein cut their price target on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Evercore reiterated an "outperform" rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, UBS Group set a $105.00 price target on shares of Otis Worldwide in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $92.91.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $72.15 on Thursday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The stock has a fifty day moving average of $72.59 and a two-hundred day moving average of $77.76. The firm has a market capitalization of $27.46 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its 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. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Otis Worldwide's 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. Equities research analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.

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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