Oxbow Advisors LLC Grows Holdings in Otis Worldwide Corporation $OTIS

Oxbow Advisors LLC lifted its stake in Otis Worldwide Corporation (NYSE:OTIS) by 97.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 62,449 shares of the company’s stock after purchasing an additional 30,743 shares during the quarter. Oxbow Advisors LLC’s holdings in Otis Worldwide were worth $4,814,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Otis Worldwide in the 4th quarter valued at approximately $770,125,000. Millennium Management LLC raised its position in Otis Worldwide by 1,047.0% in the fourth quarter. Millennium Management LLC now owns 2,387,466 shares of the company’s stock valued at $208,545,000 after purchasing an additional 2,179,314 shares during the period. Van ECK Associates Corp lifted its stake in Otis Worldwide by 97.9% during the fourth quarter. Van ECK Associates Corp now owns 4,002,589 shares of the company’s stock worth $349,626,000 after purchasing an additional 1,979,819 shares in the last quarter. AQR Capital Management LLC lifted its stake in Otis Worldwide by 125.7% during the third quarter. AQR Capital Management LLC now owns 2,596,355 shares of the company’s stock worth $236,891,000 after purchasing an additional 1,445,904 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Otis Worldwide by 199.6% during the third quarter. Squarepoint Ops LLC now owns 2,030,095 shares of the company’s stock worth $185,612,000 after purchasing an additional 1,352,530 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OTIS. Weiss Ratings lowered Otis Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Morgan Stanley set a $88.00 price objective on Otis Worldwide in a report on Friday, April 24th. Sanford C. Bernstein began coverage on Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 target price on the stock. UBS Group set a $105.00 target price on Otis Worldwide in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.58.

Otis Worldwide Stock Down 0.1%

Otis Worldwide stock opened at $73.08 on Friday. The firm has a market cap of $28.04 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $101.42. The company’s 50 day moving average is $72.90 and its two-hundred day moving average is $81.56.

Otis Worldwide (NYSE:OTIS) last issued 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). The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities research analysts anticipate that Otis Worldwide Corporation will post 4.19 earnings per share for the current fiscal year.

Otis Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 15th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.4%. This is a boost from Otis Worldwide’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 15th. Otis Worldwide’s dividend payout ratio (DPR) is 46.81%.

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.