AlphaQuest LLC Has $4.44 Million Stock Position in Otis Worldwide Corporation $OTIS

AlphaQuest LLC lifted its stake in Otis Worldwide Corporation (NYSE:OTIS) by 49.6% during the 4th quarter, HoldingsChannel reports. The fund owned 50,856 shares of the company’s stock after buying an additional 16,862 shares during the period. Otis Worldwide comprises approximately 0.2% of AlphaQuest LLC’s portfolio, making the stock its 15th biggest holding. AlphaQuest LLC’s holdings in Otis Worldwide were worth $4,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OTIS. Jones Financial Companies Lllp grew its stake in shares of Otis Worldwide by 3.4% in the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after acquiring an additional 304 shares during the last quarter. Empowered Funds LLC boosted its stake in Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock worth $928,000 after buying an additional 857 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock worth $417,000 after buying an additional 1,574 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Otis Worldwide by 7.1% during the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock worth $3,193,000 after buying an additional 2,132 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Otis Worldwide by 13.3% during the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after buying an additional 1,196 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of NYSE OTIS opened at $72.79 on Tuesday. The stock has a market cap of $27.93 billion, a PE ratio of 19.36, a PEG ratio of 2.38 and a beta of 0.95. The business has a fifty day moving average of $77.46 and a two-hundred day moving average of $84.94. Otis Worldwide Corporation has a 52-week low of $69.72 and a 52-week high of $101.42.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Analysts predict that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 15th. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Analyst Upgrades and Downgrades

OTIS has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Barclays decreased their price target on shares of Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research note on Friday, April 24th. JPMorgan Chase & Co. downgraded shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research note on Friday, January 30th. Finally, Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $97.64.

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.