Ieq Capital LLC Purchases New Shares in Otis Worldwide Corporation $OTIS

Ieq Capital LLC acquired a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, Holdings Channel reports. The firm acquired 67,713 shares of the company’s stock, valued at approximately $4,848,000.

A number of other institutional investors and hedge funds have also made changes to their positions in OTIS. Callan Family Office LLC bought a new position in shares of Otis Worldwide in the 2nd quarter valued at about $320,000. Shelter Mutual Insurance Co bought a new stake in Otis Worldwide during the second quarter worth approximately $2,234,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Otis Worldwide in the 2nd quarter worth approximately $29,000. Allworth Financial LP purchased a new position in shares of Otis Worldwide in the 2nd quarter worth approximately $3,121,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in shares of Otis Worldwide during the 2nd quarter valued at approximately $3,023,000. 88.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Sanford C. Bernstein lowered their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on shares of Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 target price on shares of Otis Worldwide in a research note on Monday, August 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Finally, Evercore reaffirmed an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.91.

Otis Worldwide Stock Up 0.2%

OTIS opened at $71.65 on Monday. The business has a fifty day moving average of $72.64 and a 200 day moving average of $77.56. The stock has a market cap of $27.28 billion, a P/E ratio of 18.42, a PEG ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The business’s revenue 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. Equities analysts anticipate that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio (DPR) is currently 45.24%.

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.