Jupiter Topco LLC Purchases New Holdings in Otis Worldwide Corporation $OTIS

Key Points

• Jupiter Topco LLC acquired 55,484 shares of Otis Worldwide worth approximately $3.97 million during the second quarter. Institutional investors collectively own 88.03% of the company.
• Otis shares opened at $70.59, near the company’s 12-month low of $69.16 and below both its 50-day and 200-day moving averages. The stock has a market capitalization of $26.87 billion and a price-to-earnings ratio of 18.15.
• Otis matched quarterly EPS expectations at $1.01 while revenue rose 7.3% year over year to $3.86 billion. The company declared a quarterly dividend of $0.44 per share, and analysts maintain a consensus “Hold” rating with an average price target of $92.91.

Jupiter Topco LLC purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,484 shares of the company's stock, valued at approximately $3,972,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pinnacle Financial Partners Inc. lifted its stake in Otis Worldwide by 19.6% during the third quarter. Pinnacle Financial Partners Inc. now owns 77,492 shares of the company's stock worth $7,085,000 after purchasing an additional 12,721 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Otis Worldwide by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company's stock worth $248,417,000 after buying an additional 18,189 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Otis Worldwide by 1,153.2% during the 2nd quarter. Banco Santander S.A. now owns 106,257 shares of the company's stock worth $7,608,000 after buying an additional 97,778 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its stake in Otis Worldwide by 21.9% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company's stock valued at $114,355,000 after buying an additional 235,316 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its stake in Otis Worldwide by 44.1% in the fourth quarter. Alberta Investment Management Corp now owns 170,600 shares of the company's stock valued at $14,902,000 after buying an additional 52,200 shares in the last quarter. Institutional investors own 88.03% of the company's stock.

Otis Worldwide Trading Down 0.8%

Shares of OTIS stock opened at $70.59 on Wednesday. The business's 50-day moving average price is $72.49 and its 200-day moving average price is $76.67. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57. The firm has a market capitalization of $26.87 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.50 and a beta of 0.88.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The firm'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. On average, sell-side analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide's dividend payout ratio (DPR) is presently 45.24%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore reissued an "outperform" rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Sanford C. Bernstein reduced 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 note on Thursday, July 23rd. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a report on Monday, August 10th. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $92.91.

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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