AXQ Capital LP Invests $1.59 Million in Otis Worldwide Corporation $OTIS

AXQ Capital LP purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 18,230 shares of the company’s stock, valued at approximately $1,592,000.

Other large investors also recently made changes to their positions in the company. Camelot Portfolios LLC bought a new stake in shares of Otis Worldwide during the 4th quarter worth about $26,000. Stance Capital LLC bought a new stake in Otis Worldwide during the 3rd quarter valued at approximately $27,000. Oakworth Capital Inc. boosted its stake in Otis Worldwide by 49.1% during the 3rd quarter. Oakworth Capital Inc. now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the period. Physician Wealth Advisors Inc. boosted its stake in Otis Worldwide by 57.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 339 shares of the company’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in Otis Worldwide by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 336 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares during the period. Institutional investors own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays cut their price target on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Morgan Stanley set a $88.00 price target on Otis Worldwide in a report on Friday, April 24th. Wells Fargo & Company cut their price target on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Royal Bank Of Canada cut their price target on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, UBS Group set a $105.00 price target on Otis Worldwide in a report on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Otis Worldwide presently has a consensus rating of “Hold” and an average target price of $97.64.

Otis Worldwide Price Performance

Shares of Otis Worldwide stock opened at $69.36 on Tuesday. The firm has a market cap of $26.62 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91. The stock’s 50-day moving average is $76.39 and its 200-day moving average is $84.25. Otis Worldwide Corporation has a one year low of $69.16 and a one year high of $101.42.

Otis Worldwide (NYSE:OTIS) last released its earnings results 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 during the quarter, compared to analyst estimates of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. Otis Worldwide’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The company 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 $0.44 dividend. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

Otis Worldwide 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.