Quantinno Capital Management LP Raises Position in Otis Worldwide Corporation $OTIS

Key Points

• Quantinno Capital Management increased its Otis Worldwide position by 73.4% in the first quarter, purchasing 104,990 additional shares and bringing its holdings to 248,110 shares worth approximately $19.1 million.
• Institutional investors own 88.03% of Otis, while analysts maintain a mixed outlook: the stock has an average rating of “Hold” and a consensus price target of $94.09.
• Otis reported quarterly revenue of $3.86 billion, up 7.3% year over year, and earnings of $1.01 per share. The company also declared a quarterly dividend of $0.44 per share, representing a 2.4% annualized yield.

Quantinno Capital Management LP boosted its holdings in Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 73.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,110 shares of the company's stock after purchasing an additional 104,990 shares during the quarter. Quantinno Capital Management LP owned approximately 0.06% of Otis Worldwide worth $19,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in OTIS. Pinnacle Financial Partners Inc. raised its stake in 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 stake in shares of Otis Worldwide during the 4th quarter worth $2,046,000. Capital Research Global Investors increased its holdings in shares of Otis Worldwide by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,843,926 shares of the company's stock worth $248,417,000 after buying an additional 18,189 shares during the last quarter. Coerente Capital Management raised its position in shares of 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 buying an additional 18,038 shares during the period. Finally, Lazard Freres Gestion S.A.S. raised its position in shares of 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 buying an additional 235,316 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on OTIS. Wolfe Research downgraded Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, April 8th. Barclays decreased their target price on Otis Worldwide from $80.00 to $77.00 and set an "underweight" rating for the company in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a research report on Tuesday. Finally, UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $94.09.

Otis Worldwide Stock Performance

Shares of NYSE:OTIS opened at $71.98 on Friday. The business's 50-day simple moving average is $72.08 and its 200 day simple moving average is $79.38. The company has a market cap of $27.40 billion, a P/E ratio of 18.50, a PEG ratio of 2.55 and a beta of 0.90. Otis Worldwide Corporation has a one year low of $69.16 and a one year 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 earnings per share 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 analysts' expectations of $3.76 billion. During the same quarter in the prior year, the business earned $1.05 EPS. Otis Worldwide'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. Analysts predict that Otis Worldwide Corporation will post 4 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.76 annualized dividend and a yield of 2.4%. Otis Worldwide's payout ratio is 45.24%.

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.

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