ARQ Wealth Advisors LLC Acquires 12,610 Shares of Otis Worldwide Corporation $OTIS

ARQ Wealth Advisors LLC grew its holdings in Otis Worldwide Corporation (NYSE:OTIS) by 432.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,526 shares of the company’s stock after purchasing an additional 12,610 shares during the period. ARQ Wealth Advisors LLC’s holdings in Otis Worldwide were worth $1,197,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Otis Worldwide by 3.4% during the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after buying an additional 304 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Otis Worldwide by 10.5% in the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after acquiring an additional 857 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Otis Worldwide by 63.7% in the 1st quarter. Acadian Asset Management LLC now owns 4,045 shares of the company’s stock valued at $417,000 after acquiring an additional 1,574 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Otis Worldwide by 7.1% in the second quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after acquiring an additional 2,132 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Otis Worldwide by 13.3% in the second quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock valued at $1,012,000 after acquiring an additional 1,196 shares during the last quarter. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

NYSE:OTIS traded up $1.03 during mid-day trading on Friday, hitting $73.03. The stock had a trading volume of 2,736,062 shares, compared to its average volume of 3,482,348. Otis Worldwide Corporation has a twelve month low of $69.16 and a twelve month high of $101.42. The stock has a market cap of $28.02 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.60 and a beta of 0.90. The company’s 50 day simple moving average is $72.41 and its 200 day simple moving average is $81.03.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 business 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. Otis Worldwide’s quarterly revenue was up 6.4% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, equities analysts forecast that Otis Worldwide Corporation will post 4.19 earnings per share for the current year.

Otis Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were paid a $0.44 dividend. 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 yield of 2.4%. Otis Worldwide’s dividend payout ratio (DPR) is currently 46.81%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank Of Canada reduced their price target on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings cut Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Wolfe Research downgraded Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Sanford C. Bernstein initiated coverage on shares of Otis Worldwide in a report on Tuesday, June 9th. They set an “outperform” rating and a $97.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Otis Worldwide has a consensus rating of “Hold” and a consensus 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.