Otis Worldwide Corporation $OTIS Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its stake in Otis Worldwide Corporation (NYSE:OTIS) by 14.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 149,430 shares of the company’s stock after acquiring an additional 18,539 shares during the quarter. Corient Private Wealth LLC’s holdings in Otis Worldwide were worth $13,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTIS. Camelot Portfolios LLC purchased a new position in Otis Worldwide during the fourth quarter worth approximately $26,000. Stance Capital LLC purchased a new stake in shares of Otis Worldwide during the 3rd quarter valued at $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter valued at $27,000. Elevation Wealth Partners LLC purchased a new stake in shares of Otis Worldwide during the 4th quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Otis Worldwide during the 4th quarter worth $33,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OTIS shares. Barclays cut their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 23rd. Wolfe Research lowered Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Wells Fargo & Company dropped their price target on 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. Evercore initiated coverage on Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective on the stock. Finally, Morgan Stanley set a $88.00 price objective on Otis Worldwide in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Trading Down 0.8%

NYSE:OTIS opened at $71.88 on Wednesday. The firm has a market capitalization of $27.58 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.36 and a beta of 0.91. The firm’s fifty day simple moving average is $74.17 and its 200 day simple moving average is $82.34. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42.

Otis Worldwide (NYSE:OTIS) last posted 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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, analysts predict that Otis Worldwide Corporation will post 4.2 earnings per share for the current year.

Otis Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were paid a dividend of $0.44 per share. This is an increase 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%. The ex-dividend date was Friday, May 15th. Otis Worldwide’s payout ratio is 46.81%.

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.