Longfellow Investment Management Co. LLC Makes New Investment in Otis Worldwide Corporation $OTIS

Longfellow Investment Management Co. LLC acquired a new stake in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,965 shares of the company's stock, valued at approximately $1,071,000.

Several other institutional investors also recently modified their holdings of the company. Camelot Portfolios LLC acquired a new stake in Otis Worldwide in the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Otis Worldwide during the fourth quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Otis Worldwide during the fourth quarter worth approximately $33,000. Reflection Asset Management bought a new stake in Otis Worldwide in the fourth quarter valued at approximately $34,000. Finally, MidFirst Bank bought a new stake in Otis Worldwide in the fourth quarter valued at approximately $35,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Stock Performance

OTIS opened at $72.61 on Monday. The stock has a fifty day moving average of $72.54 and a 200-day moving average of $78.13. The company has a market capitalization of $27.64 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.56 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. 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 company posted $1.05 earnings per share. 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. On average, equities research analysts predict that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be given 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 is presently 45.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OTIS shares. Evercore reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a research note on Wednesday. Morgan Stanley set a $75.00 price target on Otis Worldwide in a report on Monday, August 10th. UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. Finally, Barclays decreased their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating on the stock in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Otis Worldwide has an average rating of "Hold" and a consensus target price of $92.91.

Otis Worldwide News Roundup

Here are the key news stories impacting Otis Worldwide this week:

• Positive Sentiment: Despite the cuts, Zacks Research still projects earnings growth from approximately $4.04 per share in fiscal 2026 to $4.41 in fiscal 2027 and $4.89 in fiscal 2028. The fiscal 2026 estimate is also slightly above the broader consensus of $4.03 per share. Otis Worldwide analyst estimates
• Neutral Sentiment: An MSN page provides updated analyst estimates and ratings for Otis Worldwide, but the supplied information does not specify individual analyst recommendations or price targets. Otis Worldwide stock: Analyst estimates and ratings
• Negative Sentiment: Zacks lowered its fiscal 2026 EPS forecast to $4.04 from $4.22, fiscal 2027 to $4.41 from $4.67, and fiscal 2028 to $4.89 from $5.23. These reductions point to weaker expected profitability than previously forecast.
• Negative Sentiment: Quarterly estimates were also reduced: Q3 2026 EPS fell to $1.01 from $1.14, Q4 2026 to $1.13 from $1.18, and Q1 2027 to $1.02 from $1.05. Additional cuts affected Q2 and Q3 2027, Q4 2027, and the first two quarters of 2028.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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