Otis Worldwide Corporation $OTIS Shares Bought by Founders Financial Securities LLC

Founders Financial Securities LLC grew its holdings in shares of Otis Worldwide Corporation (NYSE:OTIS) by 344.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,924 shares of the company’s stock after buying an additional 10,794 shares during the period. Founders Financial Securities LLC’s holdings in Otis Worldwide were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in OTIS. Smartleaf Asset Management LLC increased its holdings in shares of Otis Worldwide by 5.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,295 shares of the company’s stock valued at $202,000 after acquiring an additional 123 shares during the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in 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 last quarter. Moors & Cabot Inc. lifted its stake in 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 last quarter. Composition Wealth LLC boosted its holdings in Otis Worldwide by 4.2% in the fourth 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 boosted its holdings in Otis Worldwide by 2.6% in the third 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 and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on OTIS shares. Sanford C. Bernstein started coverage on shares of Otis Worldwide in a research report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Evercore assumed coverage on shares of Otis Worldwide in a research note on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. UBS Group set a $105.00 price target on shares of Otis Worldwide in a research note on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a research report on Friday, April 24th. One equities 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.58.

Otis Worldwide Stock Down 1.2%

NYSE:OTIS opened at $72.40 on Tuesday. The stock’s 50 day moving average price is $74.33 and its 200 day moving average price is $82.45. The company has a market capitalization of $27.78 billion, a PE ratio of 19.25, a P/E/G ratio of 2.39 and a beta of 0.91. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.42.

Otis Worldwide (NYSE:OTIS) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%.The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, sell-side analysts anticipate that Otis Worldwide Corporation will post 4.2 EPS for the current fiscal year.

Otis Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 15th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.42. Otis Worldwide’s dividend payout ratio is presently 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.