275,783 Shares in Otis Worldwide Corporation $OTIS Acquired by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in Otis Worldwide Corporation (NYSE:OTIS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 275,783 shares of the company’s stock, valued at approximately $19,747,000. Corient Private Wealth LP owned approximately 0.07% of Otis Worldwide as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OTIS. Garton & Associates Financial Advisors LLC purchased a new stake in Otis Worldwide in the fourth quarter valued at about $27,000. MidFirst Bank acquired a new position in shares of Otis Worldwide during the second quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Otis Worldwide in the 2nd quarter worth $28,000. Elevation Wealth Partners LLC boosted its position in Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock valued at $29,000 after buying an additional 382 shares during the last quarter. Finally, Addison Advisors LLC acquired a new stake in shares of Otis Worldwide in the second quarter worth $29,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Otis Worldwide Stock Performance

NYSE:OTIS opened at $71.77 on Friday. The stock has a market capitalization of $27.32 billion, a PE ratio of 18.45, a P/E/G ratio of 2.52 and a beta of 0.89. Otis Worldwide Corporation has a fifty-two week low of $69.16 and a fifty-two week high of $94.57. The company has a fifty day moving average of $72.54 and a two-hundred day moving average of $77.02.

Otis Worldwide (NYSE:OTIS) last released its earnings results on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The business 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%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts forecast that Otis Worldwide Corporation will post 4.03 earnings per share for the current year.

Otis Worldwide Announces Dividend

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

Wall Street Analyst Weigh In

OTIS has been the topic of several recent research reports. Morgan Stanley set a $75.00 price target on shares of Otis Worldwide in a report on Monday, August 10th. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a report on Tuesday, July 28th. Sanford C. Bernstein decreased their price target on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Otis Worldwide in a report on Wednesday, August 12th. Finally, Evercore reissued an “outperform” rating and set a $95.00 price target on shares of Otis Worldwide in a report on Thursday, July 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.com, the stock presently has an average rating of “Hold” and an average price target 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.