Quantitative Investment Management LLC Makes New Investment in Otis Worldwide Corporation $OTIS

Quantitative Investment Management LLC purchased a new position in shares of Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,662 shares of the company’s stock, valued at approximately $906,000.

Other institutional investors have also recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC bought a new position in Otis Worldwide during the 4th quarter worth about $27,000. Orion Capital Management LLC bought a new stake in shares of Otis Worldwide in the 2nd quarter valued at about $27,000. Reflection Asset Management bought a new stake in shares of Otis Worldwide in the 4th quarter valued at about $34,000. MidFirst Bank purchased a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Otis Worldwide in the 2nd quarter worth approximately $28,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Down 0.8%

Shares of Otis Worldwide stock opened at $70.59 on Wednesday. The company has a market cap of $26.87 billion, a P/E ratio of 18.15, a PEG ratio of 2.50 and a beta of 0.88. The firm’s 50 day moving average price is $72.49 and its 200-day moving average price is $76.67. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week 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 analysts’ consensus estimates of $1.01. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, equities research analysts forecast that Otis Worldwide Corporation will post 4.03 EPS for the current fiscal 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 dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otis Worldwide’s dividend payout ratio is currently 45.24%.

Analyst Upgrades and Downgrades

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

About Otis Worldwide

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.