Bleakley Financial Group LLC Invests $968,000 in Otis Worldwide Corporation $OTIS

Bleakley Financial Group LLC bought a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,081 shares of the company’s stock, valued at approximately $968,000.

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

Otis Worldwide Stock Performance

NYSE:OTIS opened at $70.92 on Friday. Otis Worldwide Corporation has a fifty-two week low of $69.72 and a fifty-two week high of $101.42. The company has a fifty day moving average of $76.61 and a two-hundred day moving average of $84.44. The stock has a market capitalization of $27.21 billion, a PE ratio of 18.86, a P/E/G ratio of 2.32 and a beta of 0.95.

Otis Worldwide (NYSE:OTIS) last announced 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 firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Research analysts forecast that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, May 15th. Otis Worldwide’s payout ratio is 46.81%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OTIS shares. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a research report on Friday, April 24th. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research report on Thursday, April 23rd. 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 report on Thursday, April 23rd. Weiss Ratings cut shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and a consensus 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.