Segall Bryant & Hamill LLC Makes New $9.82 Million Investment in Otis Worldwide Corporation $OTIS

Key Points

• Segall Bryant & Hamill LLC acquired 127,408 shares of Otis Worldwide valued at approximately $9.82 million, while institutional investors collectively own 88.03% of the company.
• Analysts have a consensus “Hold” rating on OTIS, with an average price target of $94.09; individual targets range from $77 to $105.
• Otis reported quarterly earnings of $1.01 per share and revenue of $3.86 billion, up 7.3% year over year, and declared a quarterly dividend of $0.44 per share, yielding about 2.4% annually.

Segall Bryant & Hamill LLC bought a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 127,408 shares of the company's stock, valued at approximately $9,821,000.

Several other hedge funds have also made changes to their positions in the company. Camelot Portfolios LLC purchased a new position in shares of Otis Worldwide during the fourth quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Otis Worldwide in the fourth quarter worth about $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Otis Worldwide in the fourth quarter worth about $33,000. Reflection Asset Management bought a new position in Otis Worldwide during the 4th quarter worth about $34,000. Finally, MidFirst Bank bought a new position in Otis Worldwide during the 4th quarter worth about $35,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on OTIS. Royal Bank Of Canada set a $90.00 price target on shares of Otis Worldwide in a report on Tuesday, July 28th. Evercore reiterated an "outperform" rating and set a $95.00 price objective on shares of Otis Worldwide in a research note on Thursday, July 23rd. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. 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. Finally, UBS Group set a $105.00 target price on Otis Worldwide in a report on Thursday, April 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $94.09.

Otis Worldwide Price Performance

OTIS opened at $71.98 on Monday. The firm has a market capitalization of $27.40 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. The business's 50-day moving average is $72.08 and its two-hundred day moving average is $79.31. 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 released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $3.76 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, sell-side analysts expect that Otis Worldwide Corporation will post 4 EPS for the current year.

Otis Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.4%. The ex-dividend date 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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