Ieq Capital LLC Buys Shares of 67,713 Otis Worldwide Corporation $OTIS

Key Points

• Ieq Capital bought 67,713 shares of Otis Worldwide in the second quarter, valued at approximately $4.85 million. Institutional investors now 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 versus the stock’s $71.65 opening price.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, while earnings of $1.01 per share matched estimates. The company also declared a quarterly dividend of $0.44 per share, representing a 2.5% yield.

Ieq Capital LLC purchased a new position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 67,713 shares of the company's stock, valued at approximately $4,848,000.

Several other large investors also recently bought and sold shares of OTIS. Smartleaf Asset Management LLC grew its stake in shares of Otis Worldwide by 5.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company's stock worth $202,000 after acquiring an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH boosted its stake in shares of Otis Worldwide by 4.0% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company's stock worth $281,000 after buying an additional 124 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Otis Worldwide by 2.7% in the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company's stock worth $414,000 after acquiring an additional 126 shares during the period. Composition Wealth LLC boosted its position in Otis Worldwide by 4.2% in the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company's stock worth $285,000 after purchasing an additional 131 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in Otis Worldwide by 2.6% in the fourth quarter. Stephens Inc. AR now owns 5,222 shares of the company's stock worth $456,000 after purchasing an additional 132 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein lowered their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a research note 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 reissued a "hold (c-)" rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Morgan Stanley set a $75.00 price objective on Otis Worldwide in a research note on Monday, August 10th. Finally, Evercore reiterated an "outperform" rating and issued a $95.00 price target 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $92.91.

Otis Worldwide Price Performance

Shares of OTIS opened at $71.65 on Monday. The firm has a market cap of $27.28 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The company has a 50 day simple moving average of $72.64 and a two-hundred day simple moving average of $77.56.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting 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 firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business posted $1.05 earnings per share. The business's quarterly 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. On average, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a 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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