Otis Worldwide Corporation $OTIS Shares Sold by Inceptionr LLC

Inceptionr LLC reduced its stake in Otis Worldwide Corporation (NYSE:OTIS) by 69.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,568 shares of the company’s stock after selling 7,968 shares during the quarter. Inceptionr LLC’s holdings in Otis Worldwide were worth $275,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its stake in Otis Worldwide by 3.4% during the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company’s stock worth $949,000 after purchasing an additional 304 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Otis Worldwide by 10.5% in the first quarter. Empowered Funds LLC now owns 8,988 shares of the company’s stock valued at $928,000 after buying an additional 857 shares in the last quarter. Acadian Asset Management LLC raised 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 buying an additional 1,574 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Otis Worldwide by 7.1% in the 2nd quarter. Baird Financial Group Inc. now owns 32,245 shares of the company’s stock valued at $3,193,000 after buying an additional 2,132 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Otis Worldwide by 13.3% during the 2nd quarter. NewEdge Advisors LLC now owns 10,222 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,196 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OTIS has been the subject of several research reports. UBS Group set a $105.00 target price on Otis Worldwide in a research report on Thursday, April 23rd. Sanford C. Bernstein lowered their price objective on shares of Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. Evercore reaffirmed an “outperform” rating and set a $95.00 target price on shares of Otis Worldwide in a research note on Thursday. Finally, Royal Bank Of Canada cut their target price on shares of Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Otis Worldwide presently has an average rating of “Hold” and a consensus price target of $95.45.

Otis Worldwide Trading Up 1.8%

Shares of OTIS stock opened at $73.25 on Tuesday. The firm has a fifty day moving average price of $71.99 and a 200 day moving average price of $79.79. The company has a market cap of $28.11 billion, a P/E ratio of 18.83, a PEG ratio of 2.58 and a beta of 0.90. Otis Worldwide Corporation has a 12 month low of $69.16 and a 12 month high of $94.57.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Otis Worldwide’s revenue for the quarter was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, equities analysts forecast that Otis Worldwide Corporation will post 4 EPS for the current year.

Otis Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a $0.44 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.4%. Otis Worldwide’s dividend payout ratio is presently 45.24%.

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.