Otis Worldwide Corporation $OTIS Shares Purchased by Allied Investment Advisors LLC

Key Points

• Allied Investment Advisors increased its Otis Worldwide stake by 10.4% in the third quarter, bringing its holdings to 166,248 shares valued at approximately $10.7 million. Institutional investors collectively own 88.03% of the company.
• Analyst sentiment is mixed, with four Buy, three Hold, and two Sell ratings; the stock has a consensus rating of “Hold” and an average price target of $91, compared with a recent price of $67.72.
• Otis reported quarterly earnings of $1.01 per share and revenue of $3.86 billion, exceeding revenue expectations while posting 7.3% year-over-year growth. The company also maintains a quarterly dividend of $0.44 per share, yielding about 2.6% annually.

Allied Investment Advisors LLC grew its stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 10.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,248 shares of the company's stock after buying an additional 15,713 shares during the period. Allied Investment Advisors LLC's holdings in Otis Worldwide were worth $10,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC raised its position in shares of Otis Worldwide by 24.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 8,709 shares of the company's stock worth $576,000 after purchasing an additional 1,711 shares during the period. Wedmont Private Capital grew its position in shares of Otis Worldwide by 17.1% in the 3rd quarter. Wedmont Private Capital now owns 5,443 shares of the company's stock valued at $360,000 after purchasing an additional 796 shares during the period. GAMMA Investing LLC increased its stake in Otis Worldwide by 76.7% during the 3rd quarter. GAMMA Investing LLC now owns 9,511 shares of the company's stock worth $612,000 after purchasing an additional 4,129 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Otis Worldwide by 45.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,402 shares of the company's stock worth $540,000 after purchasing an additional 2,622 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Otis Worldwide by 94.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 8,479 shares of the company's stock worth $545,000 after purchasing an additional 4,122 shares in the last quarter. Institutional investors own 88.03% of the company's stock.

Analysts Set New Price Targets

OTIS has been the topic of a number of research reports. Evercore reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Wells Fargo & Company initiated coverage on shares of Otis Worldwide in a report on Thursday, September 24th. They issued an "underweight" rating and a $77.00 price target for the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Sanford C. Bernstein restated an "outperform" rating on shares of Otis Worldwide in a report on Monday, September 21st. Finally, Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $91.00.

Otis Worldwide Trading Up 1.5%

NYSE OTIS opened at $67.72 on Wednesday. Otis Worldwide Corporation has a 12 month low of $63.58 and a 12 month high of $94.57. The stock has a 50 day moving average of $69.52 and a 200-day moving average of $72.55. The company has a market cap of $25.78 billion, a PE ratio of 17.41, a PEG ratio of 2.34 and a beta of 0.87.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts' consensus estimates of $1.01. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, sell-side analysts predict that Otis Worldwide Corporation will post 4.04 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, August 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.6%. Otis Worldwide's payout ratio is currently 45.24%.

About Otis Worldwide

Otis Worldwide Corporation NYSE: OTIS is a global manufacturer and service provider focused on elevator and escalator systems. The company designs, manufactures, installs and maintains elevators, escalators and moving walkways for commercial buildings, residential properties, transportation hubs and other infrastructure.

Its offerings include passenger and freight elevators, escalators, moving walkways, digital monitoring solutions and related components. Otis also provides ongoing maintenance, repair, modernization and replacement services, which support the performance and safety of equipment throughout its operating life.

The company traces its origins to 1853, when Elisha Graves Otis demonstrated a safety elevator that helped make taller buildings practical.

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