Otis Worldwide Corporation $OTIS Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Otis Worldwide Corporation (NYSE:OTIS) by 35.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 319,774 shares of the company’s stock after selling 179,403 shares during the quarter. SG Americas Securities LLC owned about 0.08% of Otis Worldwide worth $24,648,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on OTIS. Sanford C. Bernstein initiated coverage on shares of Otis Worldwide in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price objective on the stock. Morgan Stanley set a $88.00 target price on shares of Otis Worldwide in a research report on Friday, April 24th. Wells Fargo & Company lowered their price target on shares of Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Barclays cut their price target 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. Finally, UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Otis Worldwide presently has a consensus rating of “Hold” and an average price target of $97.58.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $72.71 on Thursday. The stock has a market capitalization of $27.90 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.34 and a beta of 0.91. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $101.42. The firm’s 50 day simple moving average is $73.99 and its 200-day simple moving average is $82.24.

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 the consensus estimate 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 business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. Analysts anticipate that Otis Worldwide Corporation will post 4.2 earnings per share 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 given a dividend of $0.44 per share. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s payout ratio is 46.81%.

Otis Worldwide Company 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.