19,525 Shares in Otis Worldwide Corporation $OTIS Purchased by Emmett Investment Management LP

Emmett Investment Management LP bought a new position in Otis Worldwide Corporation (NYSE:OTIS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,525 shares of the company’s stock, valued at approximately $1,512,000. Otis Worldwide comprises approximately 1.2% of Emmett Investment Management LP’s portfolio, making the stock its 24th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Camelot Portfolios LLC purchased a new stake in Otis Worldwide in the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the 4th quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in Otis Worldwide in the 4th quarter worth approximately $33,000. Reflection Asset Management bought a new position in shares of Otis Worldwide in the 4th quarter worth $34,000. Finally, MidFirst Bank bought a new position in shares of Otis Worldwide in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

Shares of Otis Worldwide stock opened at $73.25 on Tuesday. Otis Worldwide Corporation has a 52-week low of $69.16 and a 52-week high of $94.57. The company’s 50 day moving average price is $71.99 and its 200-day moving average price is $79.79. The stock has a market capitalization of $28.11 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.58 and a beta of 0.90.

Otis Worldwide (NYSE:OTIS) last posted its quarterly 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 analyst estimates of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. 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 earnings per share for the current fiscal year.

Otis Worldwide Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $88.00 price objective on shares of Otis Worldwide in a report on Friday, April 24th. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. UBS Group set a $105.00 price target on Otis Worldwide 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 report on Friday, May 15th. Finally, Royal Bank Of Canada reduced their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Otis Worldwide has a consensus rating of “Hold” and a consensus price target of $95.45.

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.