Otis Worldwide Corporation $OTIS Stock Holdings Increased by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 55.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,540 shares of the company's stock after purchasing an additional 23,418 shares during the period. Empowered Funds LLC's holdings in Otis Worldwide were worth $5,052,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OTIS. Pinnacle Financial Partners Inc. raised its position in shares of 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 period. Oak Thistle LLC acquired a new position in shares of Otis Worldwide in the 4th quarter valued at $2,046,000. Capital Research Global Investors boosted its position in shares of Otis Worldwide by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company's stock valued at $248,417,000 after purchasing an additional 18,189 shares during the period. Coerente Capital Management increased its stake in Otis Worldwide by 11.1% in the 4th quarter. Coerente Capital Management now owns 180,066 shares of the company's stock worth $15,729,000 after purchasing an additional 18,038 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. increased its stake in Otis Worldwide by 21.9% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,309,160 shares of the company's stock worth $114,355,000 after purchasing an additional 235,316 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on OTIS. Barclays reduced their price objective on shares of Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a research note on Thursday, April 23rd. Wolfe Research downgraded shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, April 8th. Weiss Ratings lowered shares of Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 15th. UBS Group set a $105.00 price target on shares of Otis Worldwide in a report on Thursday, April 23rd. Finally, Evercore restated an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a research report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $94.09.

Otis Worldwide Trading Up 0.4%

Shares of Otis Worldwide stock opened at $71.98 on Friday. The stock has a 50-day moving average price of $72.08 and a 200 day moving average price of $79.38. The company has a market cap of $27.40 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.55 and a beta of 0.90. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting 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 period last year, the company posted $1.05 EPS. 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, equities analysts forecast that Otis Worldwide Corporation will post 4 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors 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 dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is currently 45.24%.

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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