Two Sigma Securities LLC Sells 22,373 Shares of Otis Worldwide Corporation $OTIS

Key Points

• Two Sigma Securities cut its Otis Worldwide stake by 79.7% in the second quarter, selling 22,373 shares and retaining 5,710 shares worth approximately $409,000.
• Institutional investors own 88.03% of Otis shares, while analysts maintain a consensus “Hold” rating with an average price target of $92.91.
• Otis reported quarterly earnings of $1.01 per share and revenue of $3.86 billion, exceeding revenue expectations; it also declared a quarterly dividend of $0.44, yielding about 2.5% annually.

Two Sigma Securities LLC trimmed its stake in shares of Otis Worldwide Corporation (NYSE:OTIS - Free Report) by 79.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,710 shares of the company's stock after selling 22,373 shares during the quarter. Two Sigma Securities LLC's holdings in Otis Worldwide were worth $409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of Otis Worldwide by 5.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company's stock worth $202,000 after purchasing an additional 123 shares during the period. Boyd Watterson Asset Management LLC OH boosted its stake in Otis Worldwide by 4.0% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,217 shares of the company's stock valued at $281,000 after buying an additional 124 shares during the period. Moors & Cabot Inc. grew its position in Otis Worldwide by 2.7% during the fourth quarter. Moors & Cabot Inc. now owns 4,741 shares of the company's stock worth $414,000 after buying an additional 126 shares in the last quarter. Composition Wealth LLC increased its stake in Otis Worldwide by 4.2% in the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company's stock worth $285,000 after acquiring an additional 131 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in Otis Worldwide by 2.6% in the 4th quarter. Stephens Inc. AR now owns 5,222 shares of the company's stock worth $456,000 after acquiring an additional 132 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OTIS has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $90.00 price target on Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research note on Monday, August 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Evercore reissued an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein cut their price target on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide has an average rating of "Hold" and an average price target of $92.91.

Otis Worldwide Trading Up 0.4%

OTIS opened at $70.86 on Thursday. The stock has a market capitalization of $26.97 billion, a P/E ratio of 18.21, a PEG ratio of 2.49 and a beta of 0.88. The stock has a 50-day moving average price of $72.45 and a 200-day moving average price of $76.53. Otis Worldwide Corporation has a 12-month low of $69.16 and a 12-month high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts' consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.Otis Worldwide's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities research analysts predict that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide's payout ratio is presently 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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