Cambient Family Office LLC Buys Shares of 31,153 Otis Worldwide Corporation $OTIS

Cambient Family Office LLC bought a new position in Otis Worldwide Corporation (NYSE:OTIS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 31,153 shares of the company’s stock, valued at approximately $2,721,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OTIS. Smartleaf Asset Management LLC lifted its holdings in Otis Worldwide by 5.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock worth $202,000 after acquiring an additional 123 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its position in shares of 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 worth $281,000 after purchasing an additional 124 shares during the period. Moors & Cabot Inc. raised its position in shares of 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 purchasing an additional 126 shares during the period. Composition Wealth LLC lifted its holdings in shares of Otis Worldwide by 4.2% during the 4th quarter. Composition Wealth LLC now owns 3,258 shares of the company’s stock valued at $285,000 after purchasing an additional 131 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Otis Worldwide by 2.6% during the 3rd quarter. Cary Street Partners Financial LLC now owns 5,165 shares of the company’s stock valued at $472,000 after purchasing an additional 132 shares in the last quarter. 88.03% of the stock is owned by institutional investors.

Otis Worldwide Price Performance

OTIS stock opened at $73.22 on Friday. The stock has a market capitalization of $28.09 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.37 and a beta of 0.91. The business has a 50-day moving average of $74.63 and a 200-day moving average of $82.66. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $101.42.

Otis Worldwide (NYSE:OTIS) last announced 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 firm 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%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Equities analysts expect that Otis Worldwide Corporation will post 4.2 EPS for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. This is an increase from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OTIS. Sanford C. Bernstein assumed coverage on Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 target price for the company. Weiss Ratings lowered shares of Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. Wolfe Research downgraded shares of Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 8th. Finally, UBS Group set a $105.00 price objective on shares of Otis Worldwide in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Otis Worldwide currently has a consensus rating of “Hold” and an average price target of $97.58.

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.