Quantbot Technologies LP Purchases New Shares in Otis Worldwide Corporation $OTIS

Key Points

• Quantbot Technologies acquired 121,483 shares of Otis Worldwide in the second quarter, valued at approximately $8.7 million. Other institutions also initiated positions, with institutional investors collectively owning 88.03% of the stock.
• Analysts maintain a mixed outlook: four rate Otis a Buy, five a Hold and one a Sell. The consensus rating is Hold, with an average price target of $92.91, while recent targets range from $75 to $95.
• Otis reported quarterly earnings of $1.01 per share, matching estimates, while revenue rose 7.3% year over year to $3.86 billion. The company declared a quarterly dividend of $0.44 per share, representing a 2.5% annualized yield.

Quantbot Technologies LP acquired a new position in Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121,483 shares of the company's stock, valued at approximately $8,698,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Evolve Private Wealth LLC bought a new stake in shares of Otis Worldwide during the 2nd quarter valued at about $323,000. Varma Mutual Pension Insurance Co purchased a new position in shares of Otis Worldwide during the second quarter valued at about $12,418,000. Westpac Banking Corp bought a new position in Otis Worldwide in the second quarter worth about $92,000. Landscape Capital Management L.L.C. bought a new position in Otis Worldwide in the second quarter worth about $528,000. Finally, Korea Investment CORP purchased a new stake in Otis Worldwide in the second quarter worth about $28,857,000. 88.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OTIS has been the topic of several research reports. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Evercore restated an "outperform" rating and issued a $95.00 target price on shares of Otis Worldwide in a research note on Thursday, July 23rd. Sanford C. Bernstein dropped their price target on Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Finally, Morgan Stanley set a $75.00 price target on Otis Worldwide in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $92.91.

Otis Worldwide Price Performance

NYSE:OTIS opened at $71.65 on Friday. The firm has a market capitalization of $27.28 billion, a P/E ratio of 18.42, a PEG ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $94.57. The company's 50-day simple moving average is $72.64 and its 200 day simple moving average is $77.62.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors 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 yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide's dividend payout ratio (DPR) is 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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