Otis Worldwide Corporation $OTIS Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its Otis Worldwide stake by 6.5% in the first quarter, selling 23,632 shares and leaving it with 337,541 shares valued at about $26.0 million.
• Otis reported mixed quarterly results, with EPS of $0.89 missing estimates by $0.02 and revenue of $3.57 billion below expectations, though revenue still rose 6.4% year over year.
• The company raised its quarterly dividend to $0.44 per share, giving it an annualized yield of 2.4%, while analysts currently view the stock as a Hold with a consensus target price of $97.58.

J. Safra Sarasin Holding AG cut its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 337,541 shares of the company's stock after selling 23,632 shares during the quarter. J. Safra Sarasin Holding AG owned about 0.09% of Otis Worldwide worth $26,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of Otis Worldwide by 5.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company's stock valued at $202,000 after acquiring an additional 123 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its position in shares of Otis Worldwide by 4.0% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company's stock worth $281,000 after acquiring an additional 124 shares during the last quarter. Moors & Cabot Inc. boosted its position 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 last quarter. Composition Wealth LLC grew its holdings in Otis Worldwide by 4.2% in the fourth quarter. Composition Wealth LLC now owns 3,258 shares of the company's stock valued at $285,000 after purchasing an additional 131 shares during the period. Finally, Stephens Inc. AR grew its holdings in Otis Worldwide by 2.6% in the fourth quarter. Stephens Inc. AR now owns 5,222 shares of the company's stock valued at $456,000 after purchasing an additional 132 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

Otis Worldwide Price Performance

Shares of OTIS opened at $73.03 on Monday. The stock's 50-day moving average is $72.41 and its two-hundred day moving average is $80.99. The stock has a market cap of $28.02 billion, a PE ratio of 19.42, a P/E/G ratio of 2.60 and a beta of 0.90. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the business posted $0.92 EPS. Otis Worldwide's quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, research analysts anticipate that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 15th were issued a $0.44 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. This is a boost from Otis Worldwide's previous quarterly dividend of $0.42. Otis Worldwide's dividend payout ratio (DPR) is currently 46.81%.

Analyst Upgrades and Downgrades

OTIS has been the topic of a number of recent analyst reports. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Evercore began coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They set an "outperform" rating and a $100.00 price objective for the company. Weiss Ratings downgraded Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 15th. Morgan Stanley set a $88.00 target price on Otis Worldwide in a research report on Friday, April 24th. Finally, Barclays reduced their target price on Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating on the stock in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $97.58.

Otis Worldwide Company 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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